Uganda Fintech Weekly Buzz, Volume 32 (16 - 21st August 2026)

Daniel Tusiimukye

daniel@fitspa.ug

Aug 21, 2026

This week’s developments highlight a fintech ecosystem increasingly shaped by digital financial inclusion, responsible lending, cross-border payments, cybersecurity, AI, digital commerce and interoperable infrastructure. Across Uganda and the wider African market, financial institutions, fintechs, telecom operators and regulators are increasingly working together to expand access while strengthening trust, security and consumer protection.

At the same time, global fintech developments demonstrate the growing importance of regulatory technology, digital assets, artificial intelligence and real-time payments in shaping the next phase of financial services. As digital adoption accelerates, the ability to build secure, inclusive and interoperable systems will remain central to Africa’s digital economy.

Union Launches Online Marketplace Powered by RukaPay

Union Transport Alliance has launched Union Online Duuka, a digital marketplace powered by RukaPay that brings shopping, flexible financing and delivery services together on one platform. The marketplace connects customers to products from Union and its stockists, while eligible customers can use Union loans to finance purchases. The initiative highlights the growing integration of digital payments, e-commerce and embedded financing in Uganda.

Pride Bank Urges Mbale SMEs to Embrace Financial Discipline

Pride Bank Limited has engaged SMEs in Mbale on business growth, access to financing and effective financial management. The bank emphasised responsible borrowing, encouraging entrepreneurs to use business loans for their intended purposes and maintain financial discipline to support sustainable business growth and performance.

Uganda Calls for Stronger Digital Lending Regulation as Financial Inclusion Reaches 81%

The Minister of State for Microfinance, Shartsi Kutesa Musherure, has called for stronger regulation of Uganda’s growing digital lending sector. With financial inclusion rising to 81% in 2023 and government targeting 85% by 2028, the call highlights the need to balance expanded access to credit with responsible lending and consumer protection.

Equity Simplifies Cross-Border Payments for UKI Uganda

Equity Bank Uganda is helping Mbale-based manufacturer and exporter UKI Uganda Limited streamline cross-border payments as the company expands across East and Central Africa. By leveraging Equity’s regional network, the business aims to improve liquidity, reduce payment challenges and strengthen its distribution operations across regional markets.

I&M Capital Launches in Uganda to Expand Wealth and Investment Solutions

I&M Capital Limited has officially launched operations in Uganda, expanding the I&M Group’s offering of wealth and investment management solutions. The company provides services including portfolio management, advisory, money market investments, government securities, equities and offshore investments, following its licensing by the Capital Markets Authority in November 2025.

NCBA Bank Uganda Launches Enterprise Development Programme for 50 SMEs

ncba bank uganda, in partnership with MAT Abacus Business School, has launched a one-year Enterprise Development Programme for 50 SMEs. The programme will provide participating businesses with business diagnostics, practical workshops, coaching, business clinics, mentorship and continued alumni support to strengthen their operations and achieve sustainable growth.

MTN MoMo Uganda Launches Financial Literacy Campaign on Responsible Borrowing

MoMo from MTN UG has launched the “Borrow. Pay Back. Neela Neela.” campaign to promote responsible borrowing and timely loan repayment. The initiative aims to help customers understand how responsible use of digital credit can strengthen their credit profiles, potentially improve loan limits and support access to financing for business and personal needs.

Airtel Africa Launches First Satellite-to-Mobile Services in DRC

Airtel Africa and Starlink have launched satellite-to-mobile services commercially in the Democratic Republic of Congo, marking the first such deployment in Africa according to the companies. The service enables compatible smartphones to access selected low-bandwidth services such as SMS and messaging applications in areas beyond conventional mobile network coverage.

Yas Tanzania Brings Fibre Connectivity to Homes and Businesses in Dodoma

Yas Tanzania has launched Yas Fiber in Dodoma, expanding access to high-speed fibre connectivity for households, businesses and institutions. The service is intended to support digital transformation by enabling online learning, digital services, business operations and access to new markets, with coverage expected to expand progressively across the city.

UnionPay and Standard Bank Expand E-Commerce Acceptance Across Nine African Markets

UnionPay International and Standard Bank Group have expanded UnionPay e-commerce acceptance across nine African markets, including Uganda. The initiative allows participating online merchants to accept payments from UnionPay cardholders, helping businesses reach international customers and support cross-border commerce. Nearly 900 merchants are participating across the markets.

Nigeria’s SEC Proposes Greater Transaction Data Oversight for Crypto Firms

Nigeria’s Securities and Exchange Commission has proposed new rules that would strengthen oversight of digital and virtual asset operators. The proposals would require crypto businesses targeting Nigerian users to register with the SEC and provide greater visibility into transactions, wallets and the movement of digital assets, signalling a stronger focus on regulatory supervision and transaction monitoring.

AI Demand Makes Africa’s Cheapest Smartphones More Expensive

Africa’s smartphone market is facing pressure as rising memory and semiconductor costs, partly driven by demand for AI infrastructure, push up device production costs. Smartphone shipments in Africa fell 7% year-on-year to 17.8 million units in Q2 2026, while devices priced below $100 recorded a 34% decline, potentially creating new challenges for affordable digital access.

Sierra Leone Advances National Roadmap to Combat Mobile and Digital Fraud

Sierra Leone has brought together regulators, government agencies, telecom operators and mobile money providers to validate a national roadmap for combating mobile and digital fraud. Discussions focused on fraud prevention, consumer protection, SIM registration, KYC compliance, fraud reporting and public awareness, reinforcing the importance of coordinated action against digital financial crime.

Kenya Explores New Partnerships to Strengthen Digital Infrastructure

Kenya is exploring collaboration with technology and telecommunications partners to strengthen connectivity, infrastructure development and digital innovation. The discussions reflect the country's continued focus on digital infrastructure as a foundation for economic transformation, innovation and wider access to digital services.

RSwitch Takes Digital Finance Campaign to Kigali Communities

Rwanda’s RSwitch has taken its digital financial inclusion campaign directly into Kigali communities, helping residents and businesses understand and adopt digital financial services. Through eKash, banks and mobile money providers are being connected to facilitate easier digital transfers, while outreach activities help users build confidence in digital payments.

Read more: https://techafricanews.com/

Absa’s AI Chatbot Reaches 1.6 Million Users as IT Spending Rises 7%

Absa Group’s AI chatbot has reached approximately 1.6 million users as the bank continues to expand its investment in artificial intelligence and digital transformation. The Group increased IT spending by 7% to R8.8 billion in the first half of 2026, focusing on digital infrastructure, cybersecurity, cloud, data and AI capabilities. The growth highlights how financial institutions are increasingly using AI and technology to improve customer experiences, operational efficiency and scalability.

African Startup Funding Remains Resilient Despite Early-Stage Squeeze

African startups continue to face a challenging funding environment despite overall venture funding remaining relatively stable. Funding reached $1.44 billion in H1 2026, up slightly year-on-year, but the number of deals declined and funding reaching early-stage startups fell significantly, highlighting increasing investor selectivity across Africa’s technology ecosystem.

Africa Builds Toward a More Interoperable Payments Market

Africa is expanding regional payment systems aimed at making cross-border transactions faster and cheaper, but fragmented currencies remain a major challenge. Emerging interoperable payment systems across regional blocs could eventually connect markets across more than 60% of African countries, although currency conversion and settlement remain important barriers.

ShopeePay Users Can Now Make QR Payments in China

ShopeePay users from Singapore and Thailand can now make QR payments in China through the ShopeePay or Shopee app by scanning Weixin Pay merchant QR codes. The service connects ShopeePay with TenPay Global’s cross-border payment infrastructure and Weixin Pay’s extensive merchant network, with expansion to additional Southeast Asian markets planned.

Regtech, Digital Assets and Payments Lead Europe’s Fintech Investment Landscape

Fintech investment in Europe remained active during H1 2026, although funding became increasingly selective. Regulation is expected to remain a major driver of investment, particularly across regtech, digital assets and payments, as firms respond to frameworks covering crypto-assets, instant payments, operational resilience, financial data access, anti-money laundering and artificial intelligence.