Call for consultant to conduct FITSPA member compliance and regulation.


The Financial Technologies Service Providers Association (FITSPA) is an independent, nonprofit, membership-based organization that aims to create a conducive environment to stimulate innovation in the financial services sector by increasing access to affordable financial services through ICT and promoting inclusion in a suitable way.


The National Payment Systems Act was passed by the Ugandan Parliament in May 2020 and gazette in September 2020. The objective of the Act is to regulate payment systems, provide for the safety and efficiency of payment systems, provide for the functions of the central bank in relation to payment systems, prescribe the rules governing the oversight and protection of payment systems, provide for financial collateral arrangements and regulate payment service providers, issuance of electronic money and oversight of payment instruments. Fintechs were expected to comply with the regulations' requirements from 4th March 2021.

The Data Protection and Privacy Act 2019 is an Act that was passed to protect the privacy of the individual and of personal data by regulating the collection and processing of personal information, to provide for the rights for the persons whose data is collected and the obligations of data collectors, data processors and data controllers, to regulate the use or disclosure of personal information and for related matters.

One of FITSPA’s core activities over the last 3 years has been to assist and support the building of a safe and regulated Fintech ecosystem to establish and facilitate trust of the Fintech industry by various stakeholders both within and without the industry. Considering that the Fintech industry in Uganda is still in its formative stages and most of the entities have been operating outside the regulatory sphere, there is an urgent need for providing support to the Association and its members to ensure compliance.

FITSPA invites proposals from suitably qualified consultants to offer support and guidance to FITSPA members on compliance with the National Payment System Act and the Data Protection and Privacy Act. Under the supervision of FITSPA’s Programs and Activities Lead, the consultant will handhold FITSPA’s members to ensure compliance with the Acts.


  1. Provide general consultations and advice on day-to-day matters including preparing, drafting, perusing, and advising on simple compliance related documentation.
  2. Design the necessary regulatory tool kits and sample polices for members.
  3. Assess member regulatory training needs for the various regulations that affect the financial services industry.
  4. Provide support and advice to FITSPA members regarding licensing on the various regulations.
  5. Support FinTechs with coming up with proper governance and internal control measures i.e., support them in coming up with fully developed organization structure.
  6. Write regulatory status reports for FITSPA members.


  1. Technical aids: The consultant is expected to develop Tool kits, Memos, Templates and Sample documents for the members.
  2. Support: The consultant is expected to provide support to Fintechs in the form of trainings and/or hand-holding the Fintechs that do not meet the regulation requirements to achieve compliance.
  3. Report: The consultant is expected to write a detailed report about the findings and outcome of the engagements with the various Fintechs.


The successful consultant will possess the following qualifications and experience:

  • Minimum 5-Year experience in Law, Compliance and risk management, or any other related field.
  • Demonstrable experience and/or understanding of the Fintech industry in Uganda and/or other East African countries.
  • In-depth understanding of the Fintech guidelines and regulations the NPS Act and Data Protection and Privacy Act.
  • Strong analytical skills, exceptional ability in communication, networking, and writing.
  • Flexibility and ability to operate in diverse cultural settings and with a variety of stakeholders.


Interested individuals or companies who meet the above criteria are required to submit their technical and commercial proposals which must include, but not limited to, the following:

  • Confirmation of understating of the scope of work via a detailed methodology and approach to the consultancy.
  • Evidence of experience in relation to the scope of work and in carrying out similar consultancies in the Fintech, or related, industry.
  • The work plan and timelines for undertaking and completing the consultancy and the stated deliverables.
  • Details on the qualifications and experience of the team to conduct the consultancy.
  • Cost and payment terms of conducting the consultancy per the scope of work.


Evaluation and selection of submitted proposals will be based on the following criteria:

  • Technical methodology and approach of how the consultancy shall be carried out.
  • Proven knowledge and experience of company operations in the Fintech industry.
  • The work plan and timelines for completing the consultancy.
  • Capabilities and experience of consultant and/or team to conduct the consultancy.
  • The cost and payment terms of carrying out the consultancy.

FITSPA reserves the right to contact the stated organization(s) to validate cited past work done by the consultant(s).


The deadline for submission of proposals is 5:00pm on 12 th May 2023.

All proposals should be addressed to the attention of “The FITSPA Finance and Administration Committee.”

Proposals can be sent via email to or hand delivered to the FITSPA offices on 1st Floor, The Wildlife Tower, Plot 31, Kanjokya Street, by the deadline time and date.

Proposals received after the deadline will not be considered for evaluation.