For years, Uganda’s digital lending sector has expanded at breathtaking speed, but without the underlying visibility required to support responsible growth. Borrowers have increasingly turned to mobile money as their…
In this exclusive interview, Moses Akampurira, Digital Products Lead at Letshego Uganda, gives us a front-row seat into how this breakthrough is unfolding on the ground. Powered by real-time behavioural…
Looking back, 10 years ago, the whole concept of credit health was just beginning to take shape—banks were only starting to engage, and technology hadn’t really entered the scene yet….
To start, I’d like to understand your personal background and education, and how these experiences have shaped your journey to where you are today. My name is David Opio Obwangamoi,…
Children’s Rights and Violence Prevention Fund (CRVPF), and gnuGrid CRB, in partnership with the Mastercard Foundation, have extended their partnership for the Empowering Youth Through Data and Community Development (EYDCD) program. The EYDCD program will provide market-relevant skills, business development resources, and digital financial inclusion to empower young people. Building on the success of the Youth and Capacity Development (YCD) program (2020-2023), this expanded effort aims to reach 400,000 young people in Uganda (70% female) and create 250,000 dignified and fulfilling employment opportunities by 2028. The YCD program, implemented by CRVPF and in partnership with the Mastercard Foundation, reached 187,000…
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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…
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The Bank of Uganda has applauded the recent launch of gnuGrid CRB’s Mobile Credit Score as “a momentous occasion in the credit information sharing space” and a “pivotal moment in the financial sector, and specifically in the credit information, sharing space”. The game-changing Mobile Credit Score relies on over 400 alternative data points supplied my mobile phone companies such as client mobile financial behaviour as well as transaction volumes and frequency to create a more comprehensive and inclusive credit score for especially the financially underserved and unserved who only rely on mobile money borrowing. The Mobile Credit Score is the…
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The recently launched Mobile Credit Score by gnuGridCRB and Airtel Mobile Commerce Uganda Limited (AMCUL) promises to further unlock access to credit for the vast majority of Ugandans in the informal sector, including agriculture which employs the largest proportion of Ugandans, Wilbrod Owor, the Executive Director of Uganda Bankers Association (UBA) has said. Speaking at the launch of the groundbreaking solution, Mr. Owor said that using alternative data to aid decision-making in lending would scale up access to credit for those who need it most. “I’m very excited. Today’s launch of the Mobile Credit Score, speaks to impact. It is…
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The Mobile Credit Score, recently launched by gnuGrid CRB and Airtel Mobile Commerce Uganda Limited (AMCUL), will rapidly close the information asymmetry challenge in bottom-of-the-market lending, enhancing two-way lender-borrower trust and in due course shall reduce the cost of borrowing, Giles Aijukwe, the Chief Executive Officer of Letshego Uganda, one of the leading non-deposit-taking lenders has said. Mr. Aijukwe, who was a panellist at the launch of the Mobile Credit Score, hailed the Mobile Credit Score, the first of its kind as a transformational solution and said that it was mutually beneficial to lenders and borrowers alike. The first…
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Moses Ogwapus, the Commissioner of Financial Services, Ministry Of Finance, Planning And Economic Development has hailed gnuGrid and Airtel Mobile Commerce Uganda Limited’s Mobile Credit Score as an “innovative mobile credit scoring system” and a “paradigm shift” that would revolutionise financial services to the underserved segments of the population, especially the women and youth. Mr. Ogwapus whose department oversees policy and regulation of the entire financial services sector in Uganda⏤ banking, microfinance, digital financial services, capital markets, insurance and retirement benefits, was speaking at the launch of the service on January 24th, 2024, at the Kampala Serena Hotel. “The…
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