The 7th Annual Bankers’ Conference, organized by Uganda Bankers’ Association was held on June 19th, 2024, brought together industry leaders to discuss the pivotal themes of ESG (Environmental, Social, and Governance), Sustainability, and Digital Transformation shaping the future of the banking sector in Uganda.

Under the overarching theme of the conference provided a platform for robust discussions and insights on the critical role the financial services industry plays in driving sustainable development.

Julius Kakeeto, Chairman of the Uganda Bankers Association and CEO of Post Bank Uganda, set the tone for the event, emphasizing the growing global importance of ESG considerations across various industries, including the financial sector. The case of Uganda provides a compelling illustration of ESG integration, with the National Development Plan (NDP III) incorporating commitments to regional and international development frameworks, including ESG.

The conference examined the evolving regulatory landscape, which is rapidly adapting to support the shift towards a sustainable future and manage the associated challenges. “Embracing ESG is more than a regulatory requirement; it is a strategic move towards enduring sustainability and resilience in a dynamic business environment.” Kakeeto added.

One of the key objectives of the conference was to align the industry’s ESG framework and sustainability strategies with the national climate strategy and sustainability agenda. Discussions also centered on sharing lessons learned from other jurisdictions, promoting sustainable finance initiatives, and positioning the banking and financial sector in Uganda to attract more collaboration and partnerships in delivering ESG and sustainability objectives.

The Central Bank of Uganda has been at the forefront of this transformation, championing the integration of ESG principles and sustainability into the operations of supervised financial institutions. On June 4th, 2024, the banking industry’s ESG framework was launched by the Deputy Governor, Dr. Michael Atingi-Ego, to guide the industry through the implementation process.

Additionally, the industry’s commitment to social inclusivity was highlighted with the launch of the Women Economic Empowerment Initiative (WEEI), which aims to address the issues hindering the progress of women in the banking and financial sector, as well as those venturing into entrepreneurship.

As the conference came to a close, Mr. Kakeeto emphasized the critical importance of ESG as a fundamental component of a resilient and sustainable financial future. “We trust that this conference will illuminate and provide us with the necessary inspiration to enable us to fully integrate ESG principles into our business practices” he concluded.

The 7th Annual Bankers’ Conference underscored the banking industry’s pivotal role in navigating the challenges and opportunities presented by ESG, sustainability, and digital transformation, paving the way for a more resilient and inclusive financial landscape in Uganda. For Details.