The 2021 Annual Bankers Conference, to Focus on Strengthening Capacity to Thrive in 4IR

The Uganda Bankers Association (UBA) is set to virtually hold the 4th Annual Bankers Conference from 26th to 27th July 2021, under the theme: ‘Bend but don’t break: How the financial sector can thrive in the era of the 4th Industrial revolution (4IR)’.

The conference has been organized by UBA and sponsored by MasterCard, Raxio Data Center, FINCA, Experian, Stanbic Bank, Financial Sector Deepening Uganda, and KCB Bank.

This year’s event aims to facilitate a focused discussion among key players and Industry stakeholders regarding the 4IR. It will as well highlight others emerging trends, the future outlook in the payments space, confronting fraud & cybersecurity risks, redefining financial inclusion & deepening access to financial services, and harnessing opportunities from the unprecedented processing power & storage capacity in 4IR.

In a press conference that was held virtually at UBA’s head offices in Muyenga, Mr. Mathias Katamba, UBA Chairman said, “We expect that the output from this year’s Annual Bankers Conference to include forward-looking insights that will inform current and future industry decisions on the deployment of technology and the much-needed collaboration.”

During the conference, the Governor Central Bank of Kenya, Dr. Patrick Njoroge is expected to deliver a keynote address. Other key conference speakers will include the Governor of the Central Bank of Uganda and the Permanent Secretary Ministry of ICT and National Guidance who will preside over the opening ceremonies.

The conference will feature high-level panel discussions covering topical issues facing the industry at both the global and domestic level including developments in the payment space, financial inclusion, and cybersecurity among others.

Mr. Wilbrod Owor, the UBA Executive Director also revealed that the conference will analyze the key issues affecting the banking sector and offer recommendations to shape how the sector runs and the interventions required.

“Over the years, we have referred to feedback sessions taken from these conferences to develop policies and regulations to help grow the banking sector. The government has provided a number of policy frameworks that enable the embracing of technology. The financial sector has embarked on partnerships with Fintechs, telecoms to serve their customers better through digital/technology-led platforms. We have continued to dialogue with the government to change policies and taxes that hinder the adoption of digital changes,” Owor explained.

Owor added that the banking sector has witnessed new innovations and technologies such as Online Banking, Mobile Banking, Contactless ATM cards, among others which have been embraced by the public. The Covid19 crisis more than ever has brought to the fore the necessity and possibilities of the digital economy.

Mr. Shehryar Ali, MasterCard Country Manager East Africa, pledged continuous support as a key partner in the growth, development, and transformation of the financial ecosystem in Uganda.

“Covid has taught us that we are all interconnected and our wellbeing as individuals is only as effective as a community. Today, millions of SMEs, Women entrepreneurs, and those who are financially excluded have been badly impacted. It is upon us as leaders of the financial sector to collaborate and solve the problems facing our country and communities. UBA is playing the primary role as a corporate body to bridge the gap between public and private sectors to help, solve financial problems. MasterCard is delighted to be the main sponsor for this collaboration and solution-driven Annual Bankers Conference,” Shehryar said.

Shehryar added that “We are committed to bringing one billion people into the digital economy by 2025, including 50 million SMEs, and focus on 25 million Women entrepreneurs, creating pathways toward increased financial security for people, communities, and businesses around the world. Ensuring digital access for everyday transactions is a key step in including those currently outside the digital economy.”

Shehryar called upon the government, private sector, Fintechs, NGOs, and the entire financial sector to lend a hand to those impacted by the Covid-19 pandemic and drive the agenda of financial inclusion.

The Annual Bankers Conference is a key activity to UBA that brings together regulators, practitioners, and various industry experts from domestic, regional, international, and national spheres involved in delivering financial/banking services.