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Uganda Fintech Weekly Buzz, Volume 42, (25 - 30th October 2026)

Daniel Tusiimukye

daniel@fitspa.ug

Oct 30, 2026

Uganda’s fintech ecosystem continues to advance through digital lending, mobile money payments, domestic investment and stronger digital governance. Key developments include the proposed UGX 8.3 billion FITSPA Uganda Fintech Fund, the launch of Kwaata Sente digital loans, MoMo from MTN UG’s integration with hospital payments and Airtel Uganda’s network expansion through new sites and satellite connectivity. The Financial Intelligence Authority's ISO 27001 certification also highlights growing emphasis on information security and regulatory confidence.

Across Africa, fintechs are expanding cross-border payments, stablecoin services, digital banking and contactless transactions, while investors seek opportunities in startups across financial services and healthcare. At the same time, cybersecurity, consumer trust, reliable infrastructure, affordable connectivity and access to growth capital remain essential to building a resilient and inclusive digital economy.

The FITSPA FinTech Fund: Mobilising Domestic Capital to Drive Uganda’s Fintech Growth

Uganda’s proposed UGX 8.3 billion Fintech Fund, designed by ASIGMA for FITSPA with support from the Science, Technology and Innovation Secretariat, aims to address the financing gap facing local fintech businesses. The fund presents an opportunity to mobilise domestic capital, help fintechs scale, create jobs and develop financial solutions tailored to underserved communities.

Financial Intelligence Authority Receives ISO 27001:2022 Information Security Certification

Uganda’s Financial Intelligence Authority (FIA) has received ISO/IEC 27001:2022 certification for its Information Security Management System, following implementation support from NITA-U under the World Bank-funded Uganda Digital Acceleration Project. The certification recognises efforts to strengthen information security, protect sensitive financial intelligence and improve confidence in Uganda’s digital governance and cybersecurity systems.

Service Cops Supports Centenary Bank’s Kwaata Sente Digital Lending Solution

Service Cops Uganda is deepening its investment in digital lending technology through its role in Kwaata Sente, a short-term digital credit solution launched by Centenary Bank and Airtel Money Uganda, with gnuGrid CRB also participating. Service Cops Uganda provides its Vantage Loan Management System to support loan administration and coordinate lending operations among the partners.

Startup Uganda Builds Momentum for Five-Day Innovation Week

Startup Uganda has convened government agencies, development partners, private-sector leaders and entrepreneurship support organisations ahead of Uganda Innovation Week 2026, scheduled for November 9–13 at the Uganda Institute of Information and Communications Technology in Nakawa. The event aims to strengthen collaboration across Uganda’s innovation ecosystem and support the growth of startups and technology-driven enterprises.

Centenary Bank and Airtel Money Launch Kwaata Sente Digital Loan Product

Centenary Bank, Airtel Money Uganda and gnuGrid CRB have launched Kwaata Sente, a digital loan product that allows eligible customers to apply for short-term credit through their mobile phones without visiting a bank branch, holding a bank account or accessing the internet. Centenary provides the financing, Airtel Money facilitates applications and repayments, while gnuGrid supports customer profiling. Bank of Uganda figures cited in the report show digital loan disbursements reached approximately UGX 4.8 trillion across 306.3 million transactions in the 12 months to December 2025.

Court of Appeal Cuts MTN’s Damages to Ezee Money by UGX 2 Billion

Uganda’s Court of Appeal has reduced damages MTN Uganda must pay EzeeMoney Ltd from UGX 2.3 billion to UGX 300 million in a long-running dispute over alleged business interference and competition practices. The court overturned findings that MTN breached specified provisions of the Uganda Communications Act, 2013, while upholding liability for wrongful interference with contractual relations.

Minister Musasizi Urges Vigilance Against Return to Grey List as FIA Secures ISO Certification

Finance Minister Henry Musasizi has urged Uganda’s Financial Intelligence Authority to protect the country’s improved standing in the global financial system and prevent a possible return to the anti-money laundering grey list. The FIA’s ISO/IEC 27001 certification and launch of its Client Service Charter are intended to strengthen information security, improve service delivery and build stakeholder confidence.

MTN MoMo Partners With C-Care Uganda to Enable Digital Hospital Payments

MoMo from MTN UG has partnered with C-Care Uganda’s IHK Hospital in Namuwongo to enable patients and caregivers to pay hospital bills digitally. The service allows patients to approve payment prompts on their phones, with transactions reflected immediately in the hospital’s system, reducing queues and simplifying payment confirmation.

Airtel Uganda Adds 840 Sites in Two Years, Takes Network to the Skies With Starlink

Airtel Money Uganda has expanded its telecommunications network by approximately 25% over two years, deploying 840 new sites to improve coverage and service quality. The company is also extending connectivity through satellite technology, with Starlink Mobile launched in Uganda through Airtel in September 2026 to enable compatible smartphones to connect directly to satellites in areas beyond conventional network coverage.

Safaricom Dismisses 118 Staff for Fraud, Four Times the 2021 Level

Safaricom PLC dismissed 118 employees for fraud in the year to March 2026, more than four times the 28 dismissals recorded in 2021, even as reported fraud incidents fell by 82%. The disclosures highlight the importance of internal controls and employee accountability in protecting customer information, SIM registration processes and mobile money operations, particularly M-PESA Africa.

Airtel Africa Hits Record Margins in H1 as Revenue Grows 28% and Customer Base Reaches 193.9 Million

Airtel Africa reported a 28.2% increase in revenue to $3.823 billion for the half year ended September 30, 2026, with its customer base growing to 193.9 million across 14 markets. Mobile money customers rose 22.4% to 60.9 million, while data customers reached 89.9 million. Strong growth in data and mobile money services helped lift underlying EBITDA and push the second-quarter EBITDA margin to a record 50.4%.

Republic of Congo Telecom Networks Hit by Electricity and Diesel Shortages

Telecommunications networks across the Republic of Congo have experienced disruptions due to unreliable electricity supplies and difficulties obtaining diesel for backup generators. The communications regulator reported that operators were receiving an average of nine hours of electricity daily, while backup batteries provided around six hours of autonomy, exposing the vulnerability of digital infrastructure to energy supply challenges.

Grey’s Next Bet Is Making African Trade Less Dependent on the Dollar

Cross-border payments fintech Grey is developing direct currency conversion routes to help African businesses pay suppliers in other African markets without first converting funds into US dollars. The approach aims to reduce transaction complexity and address foreign exchange liquidity and payment reliability challenges that increase the cost of intra-African trade.

Interswitch Says More Banks Are Ready for Tap-to-Pay, but Consumers Need Convincing

Nigerian payments technology company Interswitch says consumer awareness and merchant readiness remain key barriers to widespread adoption of contactless payments. Following the launch of Google Pay in Nigeria with Mastercard, the company is working with banks and merchants to expand tokenised tap-to-pay transactions while reassuring consumers about the security and convenience of paying with compatible cards and smartphones.

Magna Investor Connection Drive Matches 26 Nigerian Startups With 16 Investors

Magna Collective’s Investor Connection Drive brought together 26 Nigerian startups and 16 venture investors for 61 scheduled one-to-one meetings in Lagos. Supported by Google for Startups, the UK-Nigeria Tech Hub and the Office for Nigerian Digital Innovation, the initiative aims to improve investor access for early-stage companies in a market where startup funding is recovering but remains concentrated among a relatively small number of businesses.

Tanzania’s Medikea Raises $1.2 Million to Expand Integrated Healthcare Network

Tanzanian healthtech startup Medikea has raised $1.2 million in pre-seed funding to expand a healthcare model combining virtual consultations with physical clinics, diagnostic laboratories, pharmacies and specialist care. The company has already expanded to four clinics, including new facilities in Arusha and Morogoro, and plans to use the funding for further expansion, technology development, recruitment and operations.

Raenest Expands Beyond Cross-Border Payments With Stablecoins and Savings

Nigerian fintech Raenest App (formerly Geegpay) has introduced stablecoin payments, cryptocurrency deposits, additional virtual cards, a physical card and savings products as it expands beyond cross-border payments. The new offerings allow users to receive, hold, save and spend money across currencies through one account, with advertised returns of up to 7% annually on dollar and stablecoin balances and up to 16% on naira savings.

Qashio Launches Global Pay to Reward Businesses for Cross-Border Payments

Spend management company Qashio has launched Global Pay, a business payments product that rewards companies for international supplier payments through points redeemable across more than 50 travel and hospitality brands. The service also offers upfront foreign exchange rates, zero fixed transfer fees, fast international settlements and payment visibility within the Qashio platform.

SettleMint Integrates Digital Asset Platform With IBM Digital Asset Haven

SettleMint has integrated its Digital Asset Lifecycle Platform with IBM Digital Talent for Business (IBMDT) Asset Haven to help financial institutions and other regulated organisations issue, manage and transfer tokenised assets. The combined platform brings together asset lifecycle management, secure wallet and key management, transaction approvals and policy governance, supporting applications involving securities, deposits, equities, treasuries and stablecoins.

GSMA Urges Gabon to Cut Smartphone Costs and Expand Digital Access

The GSMA has called on Gabon to reduce smartphone costs, review telecommunications taxes and expand digital services to increase mobile internet adoption. Although 4G coverage reaches 95% of the population, the report highlights a gap between network availability and actual usage. It estimates that coordinated reforms could connect an additional 190,000 people by 2031 and generate higher public revenues.