FutureLink Technologies

Few developments in financial services have generated as much public debate in recent years as digital lending. For some Ugandans, mobile loan applications have provided a convenient source of emergency funds, working capital and financial support when traditional financing was out of reach. For others, the experience has been marked by excessive charges, aggressive debt collection, threats and concerns over the misuse of personal information. These contrasting experiences have shaped public perceptions of an industry that continues to play an increasingly important role in the country's financial ecosystem. For a small business owner who needs to restock a shop before the next trading day, a farmer preparing for a planting season or a trader facing an unexpected expense, access to timely credit can make a meaningful difference. Yet obtaining a loan from a traditional financial institution is not always straightforward. Borrowers may need formal financial records, conventional collateral or proof of stable income that many informal businesses and low-income earners cannot readily provide. While the concerns surrounding digital lending must be addressed, they should not overshadow the role that responsible providers can play in expanding access to finance. The answer to misconduct should not be to dismiss an entire industry, but to hold offenders accountable while creating an environment in which responsible lenders can continue serving the people and businesses that need them. Let’s Not Throw Out the Baby with the Bathwater: Why Responsible Digital Lending Still Matters; mountkenyatimes.co.ke/lets-n… @FitspaUG, @UnifiUg, @UNCDF, @ZenkaFinance, @FurahaFinserve, @JUMO, @fsduganda), @Flowglobal, @mkopauganda, @numidatech, @Fidocredit

Yesterday, @FitspaUG Chairperson and CEO of @FutureLinkTechn, Vincent Tumwijukye, joined other stakeholders before the Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises (PAC-COSASE) at the @Parliament_Ug, where he presented FITSPA’s position on issues relating to responsible digital lending and consumer protection. During the engagement, Vincent highlighted @FITSPA’s work in promoting responsible digital lending and strengthening consumer protection, including the Industry Code of Conduct for Responsible Digital Lending in Uganda, launched last year. The Code, developed in partnership with the United Nations Capital Development Fund (@UNCDF), provides a self-regulatory framework designed to promote responsible lending practices, strengthen consumer protection, enhance transparency, and support the responsible use and protection of customers’ personal data. As Uganda’s digital credit ecosystem continues to grow, with MSMEs increasingly turning to digital credit to meet their financing needs, responsible practices are essential to building trust and ensuring that innovation contributes to meaningful financial inclusion. Vincent called on digital lenders and other industry players to embrace and adhere to the Code, uphold consumer rights, protect personal data, and ensure that digital credit is delivered responsibly, transparently and ethically. #FITSPA #FintechUganda #DigitalLending #ResponsibleLending #FinancialInclusion #ConsumerProtection #DigitalFinance #Uganda

⭐️ Earlier today, @FitspaUG hosted representatives from the @BOU_Official, @paysyslabs and AfricaNenda Foundation for a stakeholder working session on Uganda’s proposed National Instant Payment Switch. The engagement is part of the development of a Pre-Implementation Blueprint for the proposed national switch, with technical support from PaySys Labs and AfricaNenda Foundation. A National Payment Switch provides shared infrastructure through which banks, telecom companies, fintechs and payment service providers can connect and exchange transactions. Instead of institutions establishing multiple bilateral connections, participants connect through common infrastructure, enabling greater interoperability and more seamless movement of money across Uganda’s financial sector. The discussion focused on Uganda’s payments ecosystem, readiness to operate under a national switch, priority use cases for instant payments, and the governance frameworks required for its design, ownership and operation. Industry stakeholders also shared practical perspectives on what Uganda needs to build an interoperable, inclusive and sustainable instant payments infrastructure. FITSPA will continue bringing the ecosystem together and contributing to initiatives that strengthen Uganda’s digital financial services infrastructure and advance our mission of Making FinTech Better for Everyone. #FITSPA #FintechUganda #InstantPayments #DigitalPayments #FinancialInclusion #BankOfUganda

📸 𝐇𝐀𝐏𝐏𝐄𝐍𝐈𝐍𝐆 𝐍𝐎𝐖: Staff Training on Best Practices & Compliance in Digital Lending Operations. @FitspaUG, @UNCDF, @UgMicrofinAuth –@mofpedU & @pdpoUG are bringing together digital lending professionals to strengthen responsible lending 1/2