KAMPALA, Uganda-The Governor of the Bank of Uganda, Dr. Michael Atingi-Ego has asked the Uganda Institute of Banking and Financial Services (UIBFS) to expand its regional influence and support national development goals through specialized training programs.
Dr. Michael Atingi-Ego who is also the Patron of the Uganda Institute of Banking and Financial Services (UIBFS) made the call during the 12th Annual General Meeting of the institute held at Kampala sheraton Hotel
His message was delivered by John Chemonges, Executive Director Administration at the Central bank.
On his behalf, Mr. Chemonges highlighted UIBFS’s long-standing history, noting that although it may appear youthful to some, the institute has been operating since 1967. “The institute holds a unique position in the region,” he said. “It must now rise to become an internationally recognized provider of banking and financial training across East and Central Africa.”
A key focus of the message from the central bank was the need for UIBFS to support Uganda’s social transformation agenda, particularly in the area of agriculture. “Agriculture is the bedrock of this country,” Chemonges emphasized. “Yet, we lack adequate training in agricultural finance. The institute can empower SACCOs and microfinance institutions with the skills necessary to effectively dispense agricultural credit.”
He acknowledged the institute’s initial efforts in areas such as agricultural risk management, but stressed the need for more comprehensive and customized training programs in agricultural financing. “We need to move beyond basic training. Skill enhancement is essential—not just for farmers, but also for banks which have traditionally shied away from agriculture financing.”
Currently, agriculture employs 70% of Uganda’s population and contributes 23% to the country’s GDP. However, most people involved in the sector still rely on subsistence methods and lack professional knowledge in areas like financing. “We grew up on farms and think we know agriculture,” Chemonges said. “But agricultural finance is a different field altogether, and this is where UIBFS must step in.”
The final message from Bank of Uganda centered on the importance of international recognition for the institute’s academic programs. While UIBFS has partnered with local institutions like Makerere University and Mountains of the Moon University to offer master’s programs, Chemonges urged the institute to seek global partnerships.
“In today’s global village, professionals want qualifications that allow them to work anywhere—from China to South America to Dubai,” he said. “This can only be achieved through internationally accredited programs.”
He pledge from the central bank to work closely with UIBFS to ensure these initiatives are implemented. “We have received assurance that the institute takes this mandate seriously,” Chemonges said. “As regulators, we will follow up to ensure these goals are met.”
He also commended the team for expanding their training programs to address emerging needs, including Green Finance, ESG, and Digital Transformation as well as strengthening partnerships to co-create impactful, practical learning experiences that enhance professional competence.
“We are no longer just a provider of training—we are a strategic enabler of Uganda’s financial development agenda, and that is a responsibility we take seriously,” said ms. Gorreti Masadde, the CEO of the institute.
Masadde who was represented by Ms. Christine Birungi, Director Business Development Marketing and Membership further noted that Uganda Institute of Banking and Financial Services (UIBFS) continued to implement its 2024–2028 Strategic Plan, focusing on three key pillars: relevance and trust as a financial services institution, enhanced visibility and business growth, and customer-centered service delivery.
Among the institute’s notable achievements this year are:
- A 100% increase in student enrollment;
- The successful rollout of 166 short and specialized skills courses; and
- The launch of the Women in Banking and Finance Forum, aimed at promoting gender inclusion in the sector.
- UIBFS also gained recognition as a key player in advancing the green finance agenda within Uganda’s banking industry.
- The CEO, Mrs. Masadde Goretti, received the inaugural Danish Embassy Green Leadership Award, presented by the Royal Danish Embassy.
- Furthermore, the institute was acknowledged by aBi Finance as a learning partner in the development of a national Green Finance Curriculum.
As UIBFS strengthens its role in the financial services ecosystem, it remains firmly committed to supporting the professional growth of its members and contributing to the resilience and transformation of Uganda’s financial sector.
Reflections on Chairing the 2025 AGM of the Uganda Institute of Banking and Financial Services
“Today, I had the privilege of chairing the Annual General Meeting (AGM) of the Uganda Institute of Banking and Financial Services, standing in for our Chair, Mr. Michael Mugabi. The AGM was well-attended by key stakeholders, including the Bank of Uganda, which is the patron of the Institute. The central bank was represented by Mr. John Chemonges, who delivered an insightful and relevant speech aligned with our strategic plan and ongoing institutional activities.” Said Mr. Shafi Nambobi, Managing Director UGAFODE microfinance.
He furher noted that “One of the core focuses of the AGM was the approval of the Institute’s 2024 audited financial statements, reinforcing our commitment to strong governance and transparency. I’m pleased to report that despite some challenges last year, the performance of the Institute was commendable. We received a clean audit opinion, which was approved by the members—an important milestone for the Board and management”.
The AGM also saw the approval and appointment of new board and council members for 2024. Notable among them:
- Ms. Christine Bernadette Alupo – Director of the Currency Department representing BOU.
- Mr. Godfrey Sebaana –MD DTB Bank representing Commercial Banks.
- Mr. Micheál Mande MD Salaam Bank representing Credit Institutions.
“In 2024, we also oriented new Board Directors i.e. Mrs. Patricia Amito Lubwama representing Executive Director UBA and Mr.Nkosilathi Moyo MD Brac Uganda representing Tier II and III. We are optimistic about the direction the Institute is taking and look forward to building on this momentum.” He remarked.
