Digital Natives, Global Citizens: Youth Driving Change
Introduction
Today, the world is home to the largest generation of youth in history, with 1.8 billion individuals aged between 10 to 24 years. According to the recently released Uganda Bureau of Statistics National Population and Housing Census 2024 Preliminary Report, persons aged 18 – 30 years constitute 22.7 percent of Uganda’s population while those under 30 years of age are 73.2 percent.
The emergence of disruptive technology and evolving economic landscapes compounded by geopolitical and sociocultural disruptions has revolutionized industries and transformed businesses, resulting in profound labour-market transformations. Technological breakthroughs such as fintech solutions, the coming-of-age of generative artificial intelligence (AI), Cloud and Blockchain, Augmented and Virtual Reality (AR/VR) have created new avenues of growth – reshaping the way firms operate. Digital transformation has also created boundless opportunities and demand for new skills paving the way for innovative careers and entrepreneurial ventures in emerging sectors such as cybersecurity, data science, renewable energy, and creative arts.
Today, we are joined by Mr. John Kiwanuka and Mr. Faizo Muhumuza, two visionary fintech entrepreneurs who are at the forefront of harnessing the power of digital transformation to create meaningful change in their communities.
In an era where technology is reshaping the financial landscape, these entrepreneurs are not just adapting to change; they are driving it. They understand that digital transformation is not merely about implementing new technologies, but about reimagining financial services to enhance accessibility, efficiency, and inclusivity.
John Kiwanuka has pioneered an innovative solution - eMaisha Pay - that has empowered underserved micro and small businesses especially in agriculture, enabling them to access vital financial resources and tools to stimulate enterprise growth. eMaisha Pay offers services such as the “Save Smart, grow big”, “Track Manage, succeed”, “Access Credit, Boost Harvest”, “Your Money, any time” and many more which can be accessed through a downloadable application accessible to over 250,000 farmers across Africa. Through a commitment to purpose-driven fintech, eMaisha Pay has significantly improved the financial health of many, particularly women-owned enterprises, demonstrating how digital products can unlock growth and foster economic resilience.
Faizo Muhumuza is equally dedicated to transforming traditional banking models. Faizo founded TELEKA – a tech platform designed to empower Village Savings and Loan Associations (VSLAs) and Savings and Credit Cooperative Organizations (SACCOs) manage their finances more efficiently and effectively. By integrating advanced technologies such as AI and blockchain, they are creating user-friendly platforms that simplify financial processes, enhance customer engagement and expand financial inclusion in Uganda, Rwanda and South Sudan. Their work exemplifies how fintech can address community needs while promoting sustainable practices.
Together, they will share insights on the challenges and opportunities presented by digital transformation in the fintech sector, and how their initiatives are making a tangible impact on their communities.
