Partnerships Key in sustaining banking & financial services for economic growth: Experts

Regional banking and financial services experts who convened in Kampala to discuss the latest trends, challenges, and opportunities in the industry, the professional highlighted the need to integrate sustainability in the industry through partnerships, inclusiveness, and adaptiveness among other factors.

This was revealed during the 21st East African Banking School (EABS) Conference from July 9th to July 12th, 2024, at the Sheraton Hotel, Kampala hosted by The Uganda Institute of Banking and Financial Services (UIBFS), in partnership with The Kenya Institute of Bankers and The Tanzania Institute of Bankers.

The theme of the conference was: “The Role of Financial Services in Building Sustainable Regional Economies.”

In his opening remarks, Mr. Michael K. Mugabi, The Chairman Board, of The Uganda Institute of Banking and Financial Services (UIBFS) and the Managing Director of Housing Finance Bank, , underscored the honour Uganda has in hosting the 21st EABS Conference while discussing the role of the conference in fostering dialogue, innovation, and strategic partnerships within the banking sector.

“For Uganda, hosting this 21st conference is a momentous occasion. It reflects our nation’s strides in becoming a central hub for financial thought leadership and innovation. This opportunity allows us to showcase our advancements and the dynamic growth of our financial sector. It is a proud moment for us to host such a distinguished assembly and to facilitate discussions that will shape the future of banking in our region” he said.

The Chairman added that “This conference comes at a time when new technologies are emerging and regulations evolving, so there is a need to integrate sustainability across the financial services industry. The conversations and dialogue can propel us toward a future where our financial institutions are more resilient, inclusive, and adaptive to change”

Delegates in group photo 

The conference attracted delegates from Tanzania, Kenya, Nigeria, and beyond including Mr. Peter Gitau, Head of Membership and Partnerships at the Kenya Institute of Bankers, Mr. Patrick Mususa, Executive Director of the Tanzania Institute of Bankers, and Mr. Fabian Kasi, Council President among others.

The Guest of honor was Dr. Tumubweine Twinemanzi, Executive Director - Supervision Bank of Uganda highlighted the critical importance of the EABS Conference for the growth of the banking industry and emphasized the need for consistency and ethics in our practices. 

CEO of UIBFS Mrs. Goretti Masadde, emphasized the importance of cross-border collaborations in the banking sector, citing recent partnerships such as the MOU signed with Women in Finance Rwanda to offer Credit and Microfinance training

Mr. Mustapha Mugisa CEO of Summit Consults Ltd

Mr. Mustapha Mugisa CEO of Summit Consults, who presented on the topic of Ethics, Integrity, and Professionalism in the Technological Era, stressed the importance of data protection and training staff to maintain integrity in handling sensitive data. 

Mr. Mustapha however said that that despite having three laws in Uganda that regulate cyber security, no law will make me culpable when I hack you on my network because you are the intruder and you read my terms and conditions

“One of the biggest challenges of a smartphone is that people for some reason assume that it is completely private and they go into their element. The more technology grows, the more the ethical footprint. Most of the time even if you put basic technology and you have people you trust, I can assure you that you will be safer than somebody who invests a lot” he said