Digital Financial Services In Uganda

Digital Financial Services In Uganda

Digital finance is the delivery of traditional financial services digitally, through devices such as computers, tablets and smartphones. Digital finance has the potential to make financial services accessible to underserved populations in areas that lacked physical infrastructure for these services.

Digital Financial Services In Uganda

Digital Financial Services (DFS) include a broad range of financial services accessed and delivered through digital channels, including payments, credit, savings, remittances and insurance. Digital channels refers to the internet, mobile phones, ATMs, POS terminals etc. Reduced risks of loss, theft, and other financial crimes posed by cash-based transactions, as well as the reduced costs associated with transacting in cash and using informal providers.

Mobile Banking, The first phase of the Digital Banking revolution was through the internet. The second phase of Digital Banking involves mobile phone platforms. After smartphones came into the market, Digital Banking has taken off in a big way. Smartphones now allow customers to carry out bank transactions on the go. Financial services that are of interest encompass but are not limited to, payment systems, investment and loan products, insurance and digital currency systems. Of particular interest are micro-finance (payments, loans and insurance), peer-to-peer lending, crowdfunding services and cryptocurrencies.

Digital money (or digital currency) refers to any means of payment that exists in a purely electronic form. Digital money is not physically tangible like a dollar bill or a coin. It is accounted for and transferred using online systems. One well-known form of digital money is the cryptocurrency Bitcoin. Digital finance and financial inclusion have several benefits to financial services users, digital finance providers, governments and the economy such as increasing access to finance among poor individuals, reducing the cost of financial intermediation for banks and Fintech providers, and increasing aggregate.

People can now access banking features with the push of a button. Banks operating costs have been significantly cut by digital banking as they require minimum physical infrastructure and human resources. Thus banks are now able to offer better interest rates on deposits while also charging lesser costs for services. One way banks make money is by charging fees. These can include account fees, transactional fees such as ATM withdrawal fees, penalty fees and currency exchange fees. These fees cover the cost of serving clients and ensure that banks make money at a very basic level.

List Of Digital Financial Services In Uganda

Below Are The Partial List Of Digital Financial Services In Uganda

The Uganda Institute Of Banking and Financial Services

Plot 10 Buganda Rd, Kampala, Uganda

Pearl Microfinance Ltd

Plot po box 36259, Gayaza Rd, Kampala, Uganda

+256 41 4540832

Umoja Microfinance (SMC) Limited

Plot 1A Suuna Lane, Kampala, Uganda

+256 758 231090

Perfect Finance Uganda Limited

8HMF+2GF, Bombo Road, opp: Equity Bank, Kampala, Uganda

+256 752 031972

UGAFODE Microfinance Limited (MDI) – Nakasero

8H6J+638, Entebbe Road, Kampala, Uganda

+256 41 4257181

FINCA Uganda – Head Office

8HMQ+V25, John Babiha (Acacia) Ave, Kampala, Uganda

+256 31 2227800

Uganda Cooperative Savings and Credit Union

Plot 239 Maganjo, Bombo Rd, Kampala, Uganda

+256 41 4233601

Agent Banking Company of Uganda ltd


+256 31 2180000

Credit Reference Bureau

Plot 1/P.O. Box 7194, Kampala, Uganda

+256 41 4348837

Development Finance Company of Uganda

Plot 26 Kyadondo Rd, Kampala, Uganda

+256 31 2300152

Housing Finance Bank | Namuwongo Branch

38 Kisugu Rd, Kampala, Uganda


8H68+83M, Rubaga Rd, Kampala, Uganda


8H83+5FR, Sentema Rd, Kampala, Uganda

+256 200 900904

UGAFODE Microfinance Limited (MDI) – Rubaga Road

8H79+77H, Rubaga Rd, Kampala, Uganda

+256 41 4257181

Ministry Of Finance Micro Finance

8H7M+CP2, Colville St, Kampala, Uganda

+256 702 722664