The 20th FITSPA Board Meeting marked a pivotal moment in our journey, featuring key discussions and decisions to drive growth, innovation, and collaboration in Uganda’s Fintech sector. Below are some of the highlights:
Unpacking FITSPA for the New Directors
The meeting began with a presentation by the FITSPA Team Lead, which gave the new directors a comprehensive overview of FITSPA’s history, vision, mission, programs, activities, organizational structure, membership, and notable achievements.
Strategy Review and Alignment
Mr. Godfrey Isingoma, FITSPA’s M&E Specialist and Consultant, led the review of FITSPA’s 5-year strategic plan for 2024-2028. The assessment focused on evaluating our progress toward achieving the established objectives. The Board agreed to further review the strategy to ensure that FITSPA’s efforts are perfectly aligned with the urgent and pressing needs of the Fintech ecosystem.
Discussion of key Initiatives
The meeting featured a passionate discussion on key FITSPA initiatives, including lobbying and advocacy for favorable tax and regulatory regimes, the Fintech fund as an investment vehicle for members, and unlocking the inflow of funding into the ecosystem. Licensing, compliance, and collaboration in digital payments and other sectors were also key talking points.
Review of the FITSPA Board and Committees Evaluation Report
Mr. Michael Gashumba, the Director of Advisory at BDO East Africa, presented the highlights from the board evaluation conducted by BDO in November 2024. He commended the Directors for their commitment to the Board and emphasized the importance of addressing the areas for improvement identified in the evaluation.
Visionary Leaders Take the Helm
The highlight of the meeting was the election of Mr. Vincent Tumwijukye, CEO of FutureLink Technologies, as our new Board Chairperson. In his acceptance speech, Mr. Tumwijukye expressed his delight in his new responsibility of driving FITSPA’s vision. He reiterated his dedication to guiding FITSPA toward achieving new milestones by prioritizing essential initiatives that address the critical challenges facing the sector, including:
- Bridging Uganda’s Fintech Talent Gap: Recognizing the critical need for skilled professionals, Mr. Tumwijukye pledged to establish intentional partnerships with educational institutions and implement capacity-building initiatives for young talent. This initiative aligns with the Talent Development pillar of our 5-year strategy, ensuring a pipeline of qualified experts to drive innovation.
- Strengthening Media Advocacy: To elevate the visibility of Fintech and shape a positive narrative, Mr. Tumwijukye highlighted the importance of strategic communication and stakeholder engagement. This focus contributes to our Membership and Partnerships pillar, enhancing industry influence and public awareness.
- Enhancing Access to Funding for Fintechs: Acknowledging the critical need for funding, Mr. Tumwijukye pledged to implement initiatives that facilitate investment in Uganda’s Fintech sector. This commitment aligns with our Investment and Funding pillar, promoting a supportive environment for sustainable growth.
- Collaboration for Industry Growth: Acknowledging the power of collaboration, Mr. Tumwijukye emphasized the importance of strengthening partnerships between Fintechs, banks, regulators, and investors to unlock mutual growth in the industry.
Another key highlight of the meeting was the appointment of Ms. Doreen Lukandwa, Head of Commercial Strategy at Onafriq, as Vice Chairperson. As a long-serving board member, she chairs the Membership and FITSPA Women Committees. Recognized as the Most Outstanding Board Member at our 7th Annual General Meeting (AGM) in December, her commitment and passion will be invaluable in supporting Mr. Tumwijukye in advancing FITSPA to new heights.
Learn more about the FITSPA Board of Directors here: https://fitspa.ug/about/our-board-members/
With this new leadership, FITSPA will benefit from a refreshed strategic focus and is well-poised to drive collective growth while unlocking benefits and opportunities for all members and stakeholders. We are thrilled to walk this exciting journey with you on our side.
