In a move to strengthen ethical banking standards and enhance customer protection, Absa Bank Uganda has today hosted an industry-wide workshop focused on the critical importance of data privacy in the digital age.
Held at Golden Tulip Hotel, the event convened key players in the financial sector under the theme: “Data Privacy is a Driver of Customer Trust and Brand Equity.”
The workshop aimed to foster collaborative dialogue on best practices, regulatory compliance, and the strategic value of robust data protection frameworks in Uganda’s financial ecosystem.
Delivering the opening remarks, David Wandera, Managing Director of Absa Uganda, highlighted the foundational role of data integrity in modern finance.
“Today’s dialogue reinforces that data integrity is the bedrock of modern finance. As industry leaders, our responsibility is not only to implement robust systems, but also to develop and promote a culture of transparency, accountability and swift action,” Wandera said.
“This commitment is what transforms the regulatory duty of data protection into a powerful driver of customer confidence and sustainable industry growth.”
The workshop attracted a broad spectrum of stakeholders including representatives from the Personal Data Protection Office, leading financial institutions, fintech innovators, and insurance companies—a collective showing that reflects the shared responsibility of safeguarding customer information across the industry.
Ruth Kagabane, Director of Compliance at Absa Uganda, emphasized that protecting personal data goes beyond regulatory mandates—it is a strategic imperative tied directly to customer loyalty and corporate reputation.
“In today’s interconnected world, data is a valuable asset, and protecting it is not just a regulatory requirement but a fundamental cornerstone of customer trust,” Kagabane stated.
“A strong data privacy posture is directly linked to strengthening brand reputation and equity. This workshop aims to proactively create a platform for industry-wide collaboration, ensuring we collectively build a more secure and trustworthy financial ecosystem for Uganda.”
The event featured expert-led sessions, interactive panels, and in-depth discussions that addressed key issues facing the industry. Topics included the use of data privacy to build brand equity, embedding best practices to mitigate risk and protect personal data, navigating compliance during cross-border data transfers, and improving the monitoring of third-party data handlers.
Representing the Executive Director for Supervision at Bank of Uganda, Sophia Kironde praised the initiative, emphasizing the strategic importance of compliance in protecting customer data and maintaining sector stability.
“While many fear the costs of compliance, we must recognise that the financial and reputational risks of non-compliance are invariably far higher—especially when it comes to financial data,” Kironde said. “I commend Absa Uganda for holding this critical dialogue as we continue working together to improve the stability and integrity of our entire financial sector.”
This initiative reinforces Absa Uganda’s ongoing commitment to its broader purpose of empowering Africa’s tomorrow together, acknowledging that protecting customer data is not only essential to individual security, but also a driver of long-term innovation and progress across the financial industry.