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FutureLink Technologies And gnuGrid CRB launch the First SACCO Industry Dashboard and Credit Score in Uganda

Left-Right: Vincent Tumwijukye, Chief Executive Officer, FutureLink Technologies; Ann Marie Mwaka Sabano - Head of Business Development - aBi Finance Ltd; Richard Byarugaba, Executive Director of Finance, Bank of Uganda; Ms. Edith Namugga Tusuubira, the Executive Director, Uganda Microfinance Regulatory Authority (UMRA); and Sumayyah Nakimuli Sengendo, Managing Director, gnuGrid CRB launch the first SACCO Industry Dashboard and Credit Score.

FutureLink Technologies and gnuGrid CRB have launched Uganda’s first Savings and Credit Cooperative Organization (SACCO) Industry Dashboard and Credit Score. 

The innovative Dashboard allows SACCOs and Microfinance Institutions (MFIs) to refine their growth strategies and develop relevant financial products by utilising real-time industry data. Additionally, the SACCO Credit Score, created in partnership with gnuGrid CRB, streamlines the lending decision process for SACCOs and MFIs.

At the launch, held on May 24th at Grand Global Hotel in Kampala, the Bank of Uganda Executive Director of Finance, Mr Richard Byarugaba note that, the SACCO Dashboard facilitates real-time industry comparison while ensuring data privacy and integrity for each institution and individual. 

“The Bank of Uganda supports innovations like these that enhance access to formal financial services,” he added. 

The Uganda Microfinance Regulatory Authority (UMRA) Executive Director, Ms. Edith Namugga Tusuubira, praised FutureLink Technologies and gnuGrid CRB for their commitment to developing relevant and affordable financial services and tools in Uganda.

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The FutureLink Technologies Chief Executive Officer,Vincent Tumwijukye said, the SACCO Industry Dashboard will accelerate the development of relevant and affordable financial services, promote fair pricing, and foster a sustainable and inclusive financial system in Uganda.

Meanwhile, Sumayyah Nakimuli Sengendo, Managing Director at gnuGrid CRB, noted that, “The SACCO Credit Score will significantly enhance access to affordable credit from formal lenders for many individuals who currently lack credit profiles and have limited credit access.” 

Licensed by the Central Bank of Uganda as a National Payment System Operator, Future Link was the first African company to receive the Product Innovation of the Year Platinum Award in 2022. It is also recognised among the Inclusive Fintech 50, a global list of top fintech companies breaking down barriers to financial access, powered by the Center for Financial Inclusion.

gnuGrid CRB Limited is Uganda’s first indigenous credit reference bureau. Established in 2019 and licensed by the Bank of Uganda in November 2021, gnuGrid CRB collects and organises credit and transactional data on borrowers, providing credit reports and scores to help credit service providers make informed lending decisions.

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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