Insights from Emmanuel Oketa, Managing Director of Fido Uganda, as featured on NBS Business Perspective
As a digital lender operating in Uganda, Fido Uganda has witnessed firsthand how access to instant credit is transforming the way people manage emergencies, grow businesses, and navigate daily life. However, at a time when digital borrowing is becoming the 'new normal,' Fido Uganda believes the conversation must evolve beyond access alone. The focus must now shift toward financial well-being, repayment culture, and long-term customer empowerment.
During a recent session of NBS Business Perspective, a candid experiment highlighted the urgency of this shift. When a room of professionals was asked how many had borrowed digitally, almost every hand went up. Yet, when asked who fully understood the impact of a missed payment on their credit history and borrowing profile, the room went quiet.
Reflecting on this moment, Emmanuel Oketa, Managing Director of Fido Uganda, noted that while borrowing has become effortless, the industry now faces a 'responsibility gap.'
"Over the past few years, access to credit has significantly improved. But the bigger question now is how that access is being used—whether people are borrowing responsibly and understanding what they’re taking," Oketa emphasized.
Fido Uganda: Moving from Access to Accountability
Fido Uganda advocates for a healthier digital credit ecosystem built on transparency and education. Rather than viewing credit as a one-off transaction, Fido Uganda believes responsible lending must go hand-in-hand with financial inclusion. This means addressing the risks of uninformed borrowing, such as multiple debt cycles and the long-term damage of a tarnished credit history.
Building a Healthier Credit Ecosystem
As digital finance continues to evolve in Uganda, Fido Uganda sees its role as extending beyond simply providing loans. The company is increasingly focused on helping customers build healthy financial habits through transparent communication and customer education initiatives.
By leveraging technology and data-driven insights, Fido aims to create lending experiences that are not only fast and convenient but also sustainable. At Fido Uganda, customer sustainability is viewed as a long-term priority; this involves using technology ethically to assess risk better, personalize loan limits, and—crucially—avoid over-lending.
Speaking on the strategic direction of the firm, Oketa highlighted that technology shouldn't just make lending faster—it should make it safer. "The goal of our technology is to help us make better decisions for the customer, helping us make more responsible lending decisions based on customer capacity. Because when people don't understand their debt, that’s where the real problems start."
The Future of Digital Credit
As Uganda’s digital finance ecosystem continues to grow, Fido Uganda believes the future of lending will depend not only on how quickly credit is accessed, but on how responsibly it is used and managed. The company remains committed to being a driving force behind a digital credit culture that empowers Ugandans, supports financial growth, and creates long-term economic opportunity.
Fido Uganda remains committed to operating within Uganda’s regulatory framework and promoting responsible financial inclusion. Leading with their mission: Empowering individuals and entrepreneurs to capture opportunities.