The Uganda Bankers’ Association (UBA), in collaboration with the Bank of Uganda, the International Fund for Agricultural Development (IFAD), and title sponsor Master card, has announced the 8th Annual Bankers Conference, set to take place on July 29, 2025, at the Kampala Serena Hotel.
This year’s conference will convene under the timely theme “Harnessing the Potential and Maximising the Impact of Remittances on Development.” It will bring together a broad mix of stakeholders, including labour export agencies, policymakers, legislators, financial institutions, regulators, development partners, private sector players, academia, and civil society.
The event will serve as a platform for sharing insights, shaping policy, and crafting practical strategies to better leverage remittances for Uganda’s sustainable socio-economic transformation.
UBA Chairperson Julius Kakeeto described remittances as more than just financial transfers, noting that they are a lifeline for millions of Ugandans. "Remittances are powerful drivers of development.
They help lift families out of poverty, increase access to healthcare and education, support real estate growth, and contribute significantly to the national economy," he said.
He added that the conference is a vital opportunity for all stakeholders to collaborate and explore innovative solutions that can ensure remittance flows play an even greater role in driving inclusive growth.
Remittance flows have become a key source of financing in many developing countries, often exceeding both foreign direct investment (FDI) and official development assistance (ODA).
In Uganda, inflows from Ugandans abroad reached over US\$1.4 billion in 2023—equivalent to nearly 3% of the country’s Gross Domestic Product (GDP).
An estimated two million Ugandans are currently living and working abroad, a number that continues to grow as labour exports to the Middle East, Asia, and other regions increase by more than 110,000 people annually.
Despite the scale of these flows, Kakeeto emphasised that Uganda is yet to fully harness their broader economic potential.
He linked the discussion to the country’s ambitious target of growing GDP tenfold to US$500 billion by 2040, noting that sustainable financing—remittances included—will be essential for infrastructure and other development priorities.
On the continental stage, Egypt leads Africa in remittance inflows at US$24.2 billion, followed by Nigeria (US$20.5 billion) and Morocco (US$12.1 billion), highlighting the vast untapped potential for countries like Uganda.
Mastercard, as the title sponsor, brings deep global expertise in digital payments to the conversation.
Speaking at the launch event, Shehryar Ali, Senior Vice President and Country Manager for East Africa and the Indian Ocean Islands, reaffirmed Mastercard’s commitment to driving digital transformation.
“We are focused on delivering innovative, secure, and efficient payment solutions that meet the needs of consumers and businesses alike.
Together, we can unlock the full potential of global money transfers as a catalyst for long-term development and financial inclusion,” he said.
The one-day conference will cover a range of critical topics, including the economic impact of remittances on growth and poverty reduction, the role of technology and fintech in shaping the future of cross-border money transfers, the risks and challenges facing the remittance ecosystem, and how financial institutions can create products, services, and policies to better support this vital financial flow.
Established in 1981, the Uganda Bankers’ Association is the umbrella body for financial institutions licensed and supervised by the Bank of Uganda.
It currently comprises 34 members, including 23 commercial banks, three development banks—Uganda Development Bank, East African Development Bank, and Afreximbank—and eight Tier 2 and Tier 3 institutions, including microfinance deposit-taking institutions (MDIs) and microfinance institutions (MFIs).