By Nanteza Ruth Walusimbi
KAMPALA
The Commissioner in charge of the Financial Services Department at the Ministry of Finance, Planning, and Economic Development, Moses Ogwapus, has urged financial players in Uganda to offer financial credit products that are easy to repay for small businesses and informal sector workers.
Ogwapus made these remarks while at the Credit Data Reference and Innovation Symposium, on 20th November,2025 at Mestil Hotel in Kampala, organized by the Credit Reference Bureau Association of Uganda, under the theme: “Strengthening and Scaling Uganda’s Credit Ecosystem through Data, Innovation, and Partnership.”
He said that many credit products remain standardized and collateral-heavy, whereby small businesses and informal sector workers, who form more than 70% of the labour force, find it difficult to meet traditional requirements.
“Financial institutions should consider how to strengthen and scale their credit ecosystems by developing robust frameworks that utilise data, foster innovative products, and encourage partnerships,“ urged Ogwapus.
Ogwapus also asked the financial institutions operators to deal with what he termed as the risk perception, noting that the lack of reliable real-time data pushes lenders to overprice loans or which in turn constrains the flow of affordable credit.
