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Uganda Fintech Weekly Buzz, Volume 27 (12th - 17th July 2026)

Daniel Tusiimkye

daniel@fitspa.ug

Jul 17, 2026

FITSPA Board Discusses Strategic Priorities for Uganda's Digital Financial Services Sector

FITSPA held its 25th Board Meeting, during which Directors reviewed the Association's strategic direction and role in advancing key industry priorities. Discussions focused on investment, digital infrastructure, cross-sector partnerships, and strengthening Uganda's global positioning to unlock regional and international opportunities.

How Equity Bank Uganda Is Expanding Access to Insurance and Financial Protection

Equity Bank Uganda generated UGX 6.69 billion in insurance premiums in Q1 2026, reflecting growing uptake of bancassurance and financial protection products. The bank continues to expand insurance access through branches, digital channels, and agency banking networks.

Why Uganda Is Becoming a Nation of Borrowers

Rising living costs, limited incomes, and easier access to digital credit are driving more Ugandans to rely on loans for everyday expenses such as school fees, business capital, and household needs. While borrowing has expanded financial inclusion, experts caution that responsible lending and improved financial literacy are essential to prevent over-indebtedness.

Godfrey Byekwaso Sets Out Agenda as New Centenary Bank Managing Director

Centenary Bank's new MD, Godfrey Byekwaso, has pledged to strengthen digital transformation, financial inclusion, customer-centricity, and cybersecurity. He also reaffirmed the bank's focus on serving farmers, youth, women entrepreneurs, and Uganda's unbanked population.

Airtel Africa Taps More Bankers for London IPO of Airtel Money

Airtel Africa is expanding its advisory team ahead of a planned London IPO for Airtel Money, which could value the business at approximately US$10 billion. The listing would be one of the largest fintech offerings linked to Africa and could raise about US$1.5 billion.

Uganda Shilling Among African Currencies Facing Pressure

Uganda's shilling is expected to weaken as corporate demand for U.S. dollars rebounds following mid-month tax payments, while Ghana's cedi and Nigeria's naira also remain under pressure. In contrast, Kenya's shilling and Zambia's kwacha are forecast to remain relatively stable due to balanced market conditions and supportive liquidity.

Paystack Expands Pesalink Partnership in Kenya

Paystack now allows Kenyan businesses to receive Pesalink bank transfers directly through its checkout platform, simplifying payment collection and reconciliation. The move strengthens payment infrastructure and supports faster, more seamless digital transactions.

Digital Lenders Top Kenya's Consumer Complaint List

Consumer complaints against digital lenders in Kenya rose sharply to 355 cases, despite tighter regulation by the Central Bank of Kenya. Key concerns include hidden charges, misleading information, and unfair loan terms.

Why Kenya's Revived Golden Visa Matters for Venture Investors and Founders

Kenya is considering a residency-by-investment program that would grant permanent residency to foreign investors, helping strengthen Nairobi's position as a regional investment hub. The proposal could attract venture capital firms and startup founders seeking long-term operational certainty in East Africa.

Nigeria's Central Bank Wants Every Retail Dollar Traced

The Central Bank of Nigeria has introduced a centralized digital platform to track all Bureau De Change foreign exchange transactions from purchase to sale. The initiative aims to improve transparency, strengthen compliance, and curb abuse in the retail forex market.

Wema Bank Reinforces Support for Fintech Growth

Wema Bank convened fintech founders and ecosystem stakeholders to strengthen partnerships and support innovation in digital financial services. The bank processed over ₦18 trillion in transactions over the past year, highlighting its role as a key fintech infrastructure provider.

Kraken Launches Crypto Debit Card With Cashback in UK and Europe

Kraken has launched a Mastercard-backed debit card that allows users to spend crypto and fiat balances seamlessly, with up to 2% cashback paid in Bitcoin, euros, or pounds. The card supports over 600 currencies and aims to make everyday crypto spending more convenient.

ECB Selects 36 Payment Providers for Digital Euro Pilot

The European Central Bank has selected 36 payment service providers to participate in the Digital Euro pilot, scheduled to begin in 2027. The initiative aims to test the digital currency's functionality, improve user experience, and strengthen Europe's digital payments ecosystem.

AI Investment Is Driving Up Technology Costs

This week saw continued competition among leading AI companies, with OpenAI expanding its model offerings and Meta advancing its AI development efforts. The pace of model releases and enterprise AI adoption remains high across the industry.

Read more: https://techcrunch.com/2026/07/

Canada Warns Banks About Advanced AI Cyber Risks

Canada's banking regulator has warned banks that advanced AI models could significantly accelerate cyberattacks, urging financial institutions to strengthen governance and cybersecurity resilience as AI adoption grows.

AI Strengthens Fraud Prevention Across Financial Institutions

Identity and fraud platform Alloy reported growing adoption of its AI-powered compliance and fraud solutions by more than 900 banks and fintechs, reflecting increased investment in AI-driven risk management.

Global Fintech Regulators Focus on AI Governance

Financial regulators in the U.S. and Europe are strengthening oversight of AI, anti-money laundering, cyber resilience, and digital payments as AI becomes increasingly embedded in financial services.

FCA Publishes Landmark Review on AI in Retail Financial Services

The UK's Financial Conduct Authority has released a landmark review highlighting how AI could transform financial services by 2030 through improved customer experiences and operational efficiency. The report also emphasizes the need to address fraud, cyber risks, consumer protection, and market concentration as AI adoption accelerates.