Mr Vincent Tumwijukye, CEO, FutureLink Technologies (FLT) and Mr Bakunda Patrick, CEO, Uganda Central Cooperative Financial Services (UCCFS), on 18th January 2018, signed a historical Memorandum of Understanding to automate SACCOs and microfinance institutions in Uganda. This project will see more than 200 SACCOs digitized, receive solar and computers. This enhances our efforts to enable more than 1,000,000 people access financial services through their phone through our mobile banking switch MSACCO.
This project will be a clear demonstration of how a Cooperative Bank would work in Uganda. We believe this will be an exciting intervention in the Ugandan Financial Sector, even as the regulator, Uganda Micro Finance Regulatory Authority (UMRA) settles in.