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Uganda Fintech Weekly Buzz, Volume 26 (5th - 10th July 2026)

Daniel Tusiimukye

daniel@fitspa.ug

Jul 10, 2026

FITSPA Convenes Sector Forum on Crypto and Virtual Assets

On July 9th, FITSPA convened regulators, fintechs, and industry stakeholders for a sector forum on crypto and virtual assets to discuss Uganda's evolving regulatory landscape, emerging opportunities, and the future of digital assets. The dialogue promoted collaboration and informed engagement as the country continues shaping its approach to virtual asset innovation.

Diamond Advocates Hosts Training on Competition Compliance in Digital Financial Services

Diamond Advocates, in collaboration with FITSPA and the Uganda Law Society, hosted a professional training on competition issues in Uganda's digital financial services market. The session brought together legal, compliance, and fintech professionals to strengthen understanding of competition law and promote effective compliance across the sector.

Pride Bank Records Strong Growth as Assets Rise to Shs574Bn

Pride Bank reported a strong 2025 financial performance, with total assets growing by 28% to Shs574 billion and profit after tax increasing by 41% to Shs11.6 billion, reflecting stronger customer confidence and continued support for Uganda’s productive sectors.

UDB Capital Base Grows to Shs1.96 Trillion

Uganda Development Bank has increased its cumulative capital base to Shs1.96 trillion through government support, development partner financing and retained earnings, strengthening its ability to provide long-term financing for businesses and economic transformation.

MTN Uganda CEO Sylvia Mulinge: Uganda is Home, and We Are Here to Stay

MTN Uganda has reaffirmed its long-term commitment to Uganda following a recent service outage, pledging continued investment in resilient digital infrastructure while assuring customers that all services have been restored and their data remained secure.

NBS at 18: MTN CEO Mulinge Credits Broadcaster’s Digital Investment for Media Growth

MTN Uganda CEO Sylvia Mulinge commended NBS Television for driving Uganda’s media and digital transformation through innovative content and investments in digital platforms, highlighting the broadcaster’s role in promoting the country’s development story.

Housing Finance Bank Reaffirms Commitment to Financing Uganda's Next Phase of Growth

Housing Finance Bank has pledged to expand affordable housing finance, enterprise lending and access to banking services as part of its commitment to supporting Uganda’s economic transformation and inclusive growth.

Pride Bank Earns Global ISO Certification to Strengthen Customer Data Security

Pride Bank has achieved ISO/IEC 27001:2022 certification, demonstrating its commitment to international information security standards and strengthening customer confidence in its digital banking and data protection practices.

DTB Joins Global Carbon Accounting Initiative to Advance Climate Disclosure and Sustainable Finance

Diamond Trust Bank has joined the Partnership for Carbon Accounting Financials (PCAF), enabling the bank to measure and disclose emissions linked to its lending and investment activities while strengthening its sustainable finance agenda.

Nigeria Ranks First in Africa in 2026 Global Responsible AI Index

Nigeria has emerged as Africa’s highest-ranked country in the 2026 Global Responsible AI Index, reflecting growing progress in building an artificial intelligence ecosystem that balances innovation with responsible governance.

Ethiopia Advances Nationwide Interoperable Government Digital Payments

Ethiopia is accelerating implementation of interoperable government digital payments through a unified national framework that supports efficient public payments, stronger financial inclusion and modern digital public infrastructure.

Seacom Highlights Resilient Network Infrastructure Across East Africa

Seacom has showcased its resilient terrestrial network spanning Kenya, Uganda, Rwanda and Tanzania, reinforcing reliable connectivity and business continuity for enterprises across East Africa.

EBRD Approves €270 Million Loan to Boost Yas’ Digital Infrastructure in Africa

The European Bank for Reconstruction and Development has approved up to €270 million in financing to support Yas’ expansion of telecommunications infrastructure in Senegal and Kenya, improving connectivity and digital inclusion across Africa.

Digital Payments Drive Growth Ambitions Among Saudi SMEs, Mastercard Finds

Mastercard's latest SME Confidence Index shows that most Saudi small businesses remain optimistic about growth, with digital payments and technology continuing to support business resilience and expansion.

Airtel Africa Foundation Extends Education Partnership to Support More Kenyan Learners

The Airtel Africa Foundation has renewed its education partnership in Kenya, providing scholarships for disadvantaged students and expanding opportunities for learners through continued investment in education.

Smart Africa Calls for Local AI Innovation and Energy Investment to Strengthen Africa’s Digital Future

Smart Africa has urged African countries to invest in local AI innovation and reliable energy infrastructure to strengthen digital sovereignty and enable greater participation in the global artificial intelligence ecosystem.

HUMAIN and Cohere Launch Strategic Sovereign AI Compute Collaboration

HUMAIN and Cohere have partnered to build sovereign AI infrastructure, combining dedicated computing capacity with enterprise AI development to support the next generation of advanced artificial intelligence models.

Lesotho Calls for Affordable Connectivity to Bridge GloLesotho Calls for Affordable Connectivity to Bridge Global AI Divide

Lesotho has called for greater investment in affordable internet, reliable electricity, and digital infrastructure to enable developing countries to participate meaningfully in the global AI economy. The country emphasized that stronger digital foundations are essential for inclusive AI development.bal AI Divide Lesotho has called for greater investment in affordable internet, reliable electricity, and digital infrastructure to enable developing countries to participate meaningfully in the global AI economy. The country emphasized that stronger digital foundations are essential for inclusive AI development.

Nigerian Fintech Gigbanc to Wind Down Operations

Nigerian fintech startup Gigbanc is shutting down after citing difficulties in raising new investment, while pursuing acquisition discussions with another fintech company. Customers have been advised to withdraw their funds before the platform ceases operations.

EthSwitch Explores AI and Cross-Border Payments Partnership with Huawei

Ethiopia's national payment switch, EthSwitch, is exploring collaboration with Huawei to strengthen AI applications, payment infrastructure, and cross-border payment connectivity with China. The discussions reflect Ethiopia's continued investment in modernizing its national payments ecosystem.

South Africa-founded Refiant AI Launches 10 Million-Token AI Model

Refiant AI has launched Protea, a family of large language models capable of processing up to 10 million tokens in a single prompt. The launch strengthens the startup's position in AI model optimization and follows its recent seed funding round.

OSL Group Secures Austrian MiCAR License for Europe Expansion

Hong Kong-based OSL Group has secured a Crypto-Asset Service Provider licence in Austria under the European Union's MiCAR framework, enabling it to offer regulated digital asset services across the European Economic Area. The approval supports the company's international expansion strategy.

Aventus Group Showcases Sustainable Fintech Growth Model

Aventus Group has been recognized as Europe's Best Digital Lending & Credit Solutions Provider for 2026, highlighting its successful expansion across more than 20 countries. The company's long-term profitability and scalable business model offer valuable lessons for emerging fintech markets worldwide.