Bankers adopt new skills to accelerate AI in Uganda's banking sector

__________________

The Uganda Institute of Banking and Financial Services (UIBFS) has signed a memorandum of understanding (MoU) with Vision Africa AI to accelerate the adoption of artificial intelligence (AI) skills within Uganda’s banking and financial services sector.

The partnership will see the two institutions collaborate to deliver end-to-end AI capacity-building solutions, targeting professionals across the industry through training, research, and consultancy.

UIBFS Chief Executive Officer Goretti Masadde says the collaboration aligns with the institute’s mandate to promote professionalism and financial inclusion in the sector.

“At the Institute, our role is to accelerate professionalism and inclusion in financial services through training, research and consultancy. This partnership allows us to tackle training in an accelerated format while opening up opportunities for research and consultancy,” Masadde said after signing the partnership.

Goretti Masadde, CEO of the Institute of Banking and Financial Services addressing the press during the signing of the memorandum of understanding (MoU) with Vision Africa AI. (Photo by David Lukiiza)

She noted that AI is increasingly becoming central to delivering customer-focused financial solutions, particularly in areas such as credit assessment and customer service.

“AI will be substantial in ensuring that we deliver customer-centric and relevant solutions, while also deepening financial services to underserved and vulnerable populations,” she added.

Masadde emphasised that while AI presents immense opportunities, it also comes with risks that must be addressed through proper governance and regulation.

“We have realised that beyond its potential, there are risks that require strong governance frameworks. AI is an enabler, not a replacement, and human capital remains critical in its application,” she said.

Officials from Vision Africa AI, including Board Chairman Dr James Onyoin and Chief Executive Officer (CEO) Julius Torach, said the partnership will leverage global expertise to deliver fast and scalable AI solutions tailored to Uganda’s financial sector.

The collaboration is expected to help bridge skills gaps, dispel misconceptions about AI, and support the responsible deployment of emerging technologies in the industry.

UIBFS noted that the partnership forms part of a broader strategy to work with multiple partners offering complementary solutions, ensuring comprehensive support for institutions at different stages of digital transformation.

In a broader arrangement, UIBFS is also working with AUI Global to expand the scope of AI and digital skills development across the financial services ecosystem.

The extended partnership brings together global expertise in AI education and innovation with UIBFS’s local training infrastructure, creating a structured platform to design, deliver, and certify programmes tailored to banks, microfinance institutions, fintechs, and regulators.

As Uganda accelerates its digital transformation agenda, the financial sector is under increasing pressure to equip professionals with AI, data, and digital competencies that enhance competitiveness, strengthen risk management, and improve customer experience while ensuring ethical adoption.

Under the collaboration, the partners will focus on building AI and digital literacy across different career levels, developing market-driven certification programmes in AI, data analytics, and cybersecurity, and promoting the use of responsible AI solutions in areas such as credit, compliance, customer service, and financial inclusion.

The initiative will also support research and dialogue on AI governance and regulation, while creating continuous professional development pathways to keep Uganda’s financial sector competitive in a rapidly evolving, data-driven global economy.

At the same events, Dr James Okello Onyoin, Board Chairperson, Vision Africa AI, stated that “This MoU is a practical step towards building an AI-ready financial sector, developing the skills, leadership, and responsible innovation culture required for Uganda’s next phase of growth.”

Planned activities include the co-development of AI skills frameworks and curricula, executive training programmes, industry dialogues, and innovation-driven projects that apply AI to real-world financial challenges.

The partnership will also establish mechanisms to track impact, including skills development outcomes, institutional adoption, and improvements in service delivery.

The collaboration is expected to strengthen the capacity of Uganda’s financial institutions to responsibly deploy AI in decision-making and operations, while building a pipeline of professionals equipped with globally benchmarked and locally relevant digital skills. It also supports Uganda’s broader goals of financial inclusion and digital transformation through safe and ethical use of emerging technologies.