Micheal K. Mugabi, the Managing Director of Housing Fiance Bank addressing the East African Banking School Conference.
East African Banking School conference (EABS), organized by three prominent banking institutions in East Africa—the International Institute of Banking and Financial Services, the Kenya School of Bankers, and the Tanzania Institute of Bankers—brought together financial service providers at The Sheraton Hotel in Kampala. The conference, themed “Role of Financial Services in Building Sustainable Regional Economies,” lasted four days.
During the event, industry experts urged financial service providers to stay ahead of industry trends and improve their strategies to meet the evolving needs of customers and stakeholders throughout East Africa.
While delivering Opening remarks, Michael K. Mugabi, the Board Chair of the Uganda Institute of Banking & Financial Services (UIBFS), also the Managing Director of Housing Finance Bank-Uganda, said that with rapid technological innovations such as digital banking, mobile money, and fintech solutions, staying ahead allows players to adopt and integrate new technologies that can improve efficiency, reduce costs, and enhance customer experience.
“Staying updated with regulatory changes, for instance, ensures compliance and helps financial service providers to avoid penalty influence and optimally adapt to new regulations proactively,” he said.
He added: “Customers’ expectations are continuously evolving, influenced by global trends and local needs, adding that banks that stay ahead of trends can anticipate and meet these expectations, leading to higher customer satisfaction and loyalty.”
Also speaking at the conference, Dr. Twinemanzi Tumubweine, the Executive Director, of Bank Supervision, at the Bank of Uganda, highlighted the importance of ethics in the banking sector.
“As a sector that buys and sells trust, virtues of honesty, taking responsibility, and intentional thinking are key in maintaining the sector’s integrity. Once these are practiced to the pinnacle, the regulator will be rendered redundant,” Tumubweine said.
Running for its 21st edition, the conference once again gathered banking and financial service professionals from across East Africa and beyond to explore the latest trends, challenges, and opportunities shaping the industry. Furthermore, it provided a platform for networking, knowledge exchange, and professional development, focusing on emerging topics such as Ethics and Integrity in the banking sector, ESG, and Opportunities for Oil and Gas in finance.
Mugabi noted that the conference comes at a time when new technologies are emerging and regulations are evolving, so there is a need to integrate sustainability across the financial services industry.
“Hosting this conference in Uganda reflects our strides in becoming a central hub for financial thought leadership, knowledge, and innovation while facilitating discussions that will shape the future of banking in our region,” said Mugabi.
The EABS conference aims to foster collaboration, share insights, and drive the growth and sustainability of the financial services sector in East Africa. Additionally, it highlights initiatives under the ESG agenda, promoting the reimaging of banking practices for a better future.
