KAMPALA, Uganda — The Uganda Institute of Banking and Financial Services (UIBFS) convened the third Annual Microfinance and SACCOs Governance Forum at Hotel Africana in Kampala. The event offered both physical and virtual attendance.
Held under the theme “The Role of Microfinance Institutions and SACCOs in Wealth Creation,” the forum aimed to deepen understanding of how these institutions can drive economic growth by empowering their members and strengthening household incomes. The discussions highlighted the critical link between financial inclusion, sustainable governance, and national development.
UIBFS CEO Mrs. Masadde Goretti emphasized the Institute’s commitment to promoting professionalism and continuous learning within the financial sector. She noted that platforms like this forum are essential for strengthening the capacity of Microfinance Institutions (MFIs) and SACCOs. “Microfinance Institutions and SACCOs play a critical role in empowering citizens, especially those at the bottom of the pyramid, thereby uplifting communities. However, the demands of modern governance and sustainable wealth creation require us to continually rethink and improve our approaches. Today’s discussions will provide valuable insights on how to help MFIs and SACCOs contribute to the 10-times growth program,” she said.
The Guest of Honour, Mr. Kaggwa Moses, Director of Economic Affairs at the Ministry of Finance, Planning and Economic Development, delivered an address on the central role of MFIs and SACCOs in advancing Uganda’s wealth creation agenda. He highlighted that these institutions have significantly expanded financial inclusion, reaching 85 percent of adults previously excluded from the formal financial system. He contrasted this with commercial banks, which he said often remain inaccessible to low-income individuals lacking collateral or formal employment. “We know that SACCOs and microfinance institutions have played a very good role in this,” he remarked.
Keynote speaker Prof. Allan Katwalo, a member of the Board of Trustees of the CEO Summit Uganda, spoke on aligning MFI governance frameworks with national wealth creation and financial inclusion goals.
The forum also featured presentations from several industry experts. Dr. Denis Tukahikaho discussed carbon credit banking in emerging economies. Mr. Charles Isingoma, Managing Director of Hofokam Ltd., addressed the challenges MFIs face as they transition toward regulatory compliance. Mr. Geoffrey Okidi of Financial Sector Deepening Uganda explored how governance can ensure that digital transformation supports wealth creation among underserved communities. Brig. Gen. Godfrey Muwanguzi, Deputy Chief Coordinator of Operation Wealth Creation, examined the alignment of microfinance operations with the National Development Plan (NDP IV). Mrs. Racheal Vanesa Muhwezi, Assistant Commissioner for Microfinance Regulation at the Ministry of Finance, spoke on strengthening corporate governance to meet regulatory and supervisory standards.
The forum underscored the increasingly important role of MFIs and SACCOs in Uganda’s economic landscape, reaffirming their contribution to financial inclusion, community empowerment, and sustainable national development.
