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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 in Uganda’s banking and financial services sector.
Through this partnership, the two institutions will work together to deliver end-to-end AI capability-building solutions for professionals across industries through training, research, and consulting.
Goretti Massade, CEO of UIBFS, said the collaboration is in line with the Institute’s mission to promote professionalism and financial inclusion in the sector.
“Our role at the Institute is to promote professionalism and inclusion in financial services through training, research and consulting. This partnership will allow us to approach training in an accelerated format while developing research and consulting opportunities,” Masadeh said after signing the partnership.
Goretti Masade, CEO of the Banking and Financial Services Association, addresses the press during the signing of the Memorandum of Understanding (MoU) with Vision Africa AI. (Photo courtesy of David Rukiiza)
He pointed out that AI is becoming increasingly central to providing customer-centric financial solutions, especially in areas such as credit assessment and customer service.
“AI will be critical in ensuring we deliver relevant customer-centric solutions while enhancing financial services for underserved and vulnerable populations,” she added.
Masadeh emphasized that while AI offers immense opportunities, it also comes with risks that must be addressed through proper governance and regulation.
“We realized that beyond its potential, there are risks that require strong governance frameworks. AI is an enabler, not a substitute, and human capital remains critical in its application,” she said.
Vision Africa AI officials, including Chairman Dr. James Onyoyin and CEO Julius Torak, said the partnership will leverage global expertise to deliver fast and scalable AI solutions tailored to Uganda’s financial sector.
This collaboration is expected to help close the skills gap, dispel misconceptions about AI, and support the responsible deployment of emerging technologies in the industry.
UIBFS noted that this 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 collaborating with AUI Global to expand the reach of AI and digital skills development across the financial services ecosystem.
This expanded partnership will combine global expertise in AI education and innovation with UIBFS’ local training infrastructure to create a structured platform to design, deliver and certify tailored programs for banks, microfinance institutions, fintechs and regulators.
As Uganda accelerates its digital transformation efforts, the financial sector is under increasing pressure to equip professionals with AI, data and digital capabilities that strengthen competitiveness, enhance risk management and improve customer experience while ensuring ethical implementation.
Under the partnership, the partners will focus on building AI and digital literacy across different career levels, developing market-driven certification programs in AI, data analytics, and cybersecurity, and promoting the responsible use of AI solutions in areas such as trust, compliance, customer service, and financial inclusion.
The initiative will also support research and dialogue on AI governance and regulation, while building a continuous professional development pathway to keep Uganda’s financial sector competitive in a rapidly evolving, data-driven global economy.
Speaking at the same event, Vision Africa AI Chairman Dr. James Okello Onyoin said, “This MoU is a practical step towards building an AI-enabled financial sector, developing the skills, leadership and responsible innovation culture needed for Uganda’s next stage of growth.”
Planned activities include joint development of AI skills frameworks and curricula, executive training programs, industry dialogue, and innovation-driven projects that apply AI to real-world financial challenges.
The partnership will also establish a mechanism to track the impact of skills development outcomes, organizational adoption, and improved service delivery.
The partnership is expected to strengthen the ability of Ugandan financial institutions to responsibly implement AI into their decision-making and operations, as well as build a pipeline of professionals with globally benchmarked and locally relevant digital skills. It also supports Uganda’s broader goals of financial inclusion and digital transformation through the safe and ethical use of emerging technologies.
