Uganda Bankers’ Association to host 8th annual bankers conference

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The Uganda Bankers’ Association (UBA), in collaboration with the Bank of Uganda, the International Fund for Agricultural Development (IFAD), and Mastercard, will this month host the 8th Annual Bankers Conference.

The conference to be held on July 29, 2025, at the Kampala Serena Hotel, is expected to convene under the theme: “Harnessing the Potential and Maximising the Impact of Remittances on Development.”

Speaking during the media briefing on Thursday held at Kingdom Kampala, the UBA chairperson, Julius Kakeeto, noted that the event will bring together a diverse array of stakeholders, including labour export agencies, policymakers, legislators, financial institutions, regulators, among others.

The goal will be to foster thought leadership and actionable strategies on leveraging the significant potential of remittances for Uganda’s sustainable socio-economic development.

"Remittances are not just transfers of money; they are powerful drivers of development, directly impacting the lives of millions of Ugandans in poverty alleviation by enhancing access to essential services like healthcare and education for many families, as well as other sectors like real estate and as such contributing significantly to our national economy," Kakeeto, UBA Chairperson highlighted.

He explained that the conference provides a crucial platform for all stakeholders to collaboratively explore innovative solutions and best practices to ensure that flows contribute even more effectively to our country's growth and development,” he said.

“Remittances have emerged as a critical financial lifeline for many low-income families in developing countries, often surpassing foreign direct investment (FDI) and official development assistance (ODA) flows. In Uganda, remittance inflows remarkably exceeded US$1.4 billion in 2023, accounting for nearly 3% of the country's Gross Domestic Product (GDP).”

Speaking during the event, Shehryar Ali, the Mastercard Senior Vice President and Country Manager for East Africa and Indian Ocean Islands, emphasised the importance of the conference.

“As Mastercard, we are dedicated to leading the digital transformation in the markets we serve, delivering innovative payment solutions for both consumers and businesses. We set new standards for payment technologies, enabling faster, more secure payment flows that meet the evolving needs of our customers. Together, we can unlock the full potential of global money transfers as a catalyst for long-term development and financial inclusion.”

The one-day conference will, among others, focus on the Economic Impact of Remittances on Growth and Development: Exploring how remittances drive economic growth, alleviate poverty, and enhance financial stability in recipient countries.

Technological Innovations Shaping the Future of Remittances: Exploring the transformative role of digital technologies, fintech, and emerging technologies in enhancing remittance systems.

Addressing Challenges and Risks in the Remittance Ecosystems: Identifying and mitigating risks such as fraud, currency volatility, and geopolitical factors that threaten the reliability of remittance flows and the sustainability of remittance networks.

And finally, the Role of Financial Institutions in harnessing the potential in remittances: Discussing products, services, regulatory frameworks, policy interventions, and other enablers that can unlock the full potential of remittances.