๐๐ฒ๐ ๐๐ถ๐ด๐ต๐น๐ถ๐ด๐ต๐๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐ ๐ถ๐ป๐ถ๐๐๐ฟ๐ ๐ผ๐ณ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ
Mr. Ogwapus Moses Commissioner, Financial Services Department Ministry of Finance MoFPED, representing MoFPED andย on behalf of the Permanent Secretary, during the 2025 Credit Data, Referencing & Innovation Symposium, reaffirmed the Government of Ugandaโs strong commitment to building a robust, inclusive, and data-driven credit ecosystem.
He emphasized that credit is a powerful engine of economic transformation fueling business growth, household stability, and national development. However, many Ugandans still struggle to access formal credit and lack portable credit histories that follow them across institutions. This limits opportunity and weakens financial mobility.
Addressing credit access limitations and challenges, he noted, to overcome these, requires data-driven innovation, digital identity, modernized data-sharing frameworks, and strong partnerships across government, lenders, telecoms, regulators, and development partners. He called on all stakeholders to build a credit ecosystem grounded in trust, collaboration, and inclusivity, ensuring every Ugandan is seen not as a risk but as potential waiting to be unlocked.
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โข Credit is a national development catalyst, enabling business growth and household resilience.
โข Exclusion remains high many Ugandans lack access to formal credit or portable credit histories.
โข Persistent ecosystem gaps include fragmented data, weak interoperability, rigid products, and limited risk assessment.
โข Fragmented databases weaken credit decisions and limit borrower mobility across institutions.
โข Products must be more inclusive, particularly for SMEs and informal sector workers.
โข Data gaps lead to risk mispricing, making loans more expensive or less available.
โข Global data-driven solutions offer a path forward through digital identity, utility and mobile data, and real-time analytics.
โข Regulatory frameworks must evolve to support innovation.
โข Partnerships are essential to building shared infrastructure and achieving scale.
โข Trust and human-centered collaboration remain foundational to true financial inclusion.
The remarks from MoFPED reinforced a clear message: Ugandaโs credit transformation will be achieved when innovation, data, and partnerships come together anchored in trust and a people-centered approach.