Bankers Root For Data Governance
The first-ever Data Governance Forum for Uganda’s banking sector has been held in Kampala with calls for professionalizing the industry and promoting financial inclusion.
On October 17, 2024, Kampala hosted Uganda’s inaugural Data Governance Forum for the banking sector, where there were calls to professionalize the industry and enhance financial inclusion.
Uganda Institute of Banking and Financial Services (UIBFS), chief executive officer, Goretti Masadde, made the call during the forum on Thursday, October 17, 2024 and highlighted the critical role of effective data management.
“Today, we are here to discuss data governance and risk management, themes that resonate deeply with our mandate,” Masadde said.
She underscored the banking sector’s reliance on trust—from customers sharing personal data to stakeholders placing their businesses in banks’ hands.
“We are merchants of trust,” she added, reinforcing the need for banks to safeguard data responsibly.
The forum also discussed regulatory requirements and how to mitigate data-related risks.
During an interview with New Vision Online, Masadde revealed insights from her recent visit to Kenya, where many companies faced lawsuits due to data breaches. According to her, this illustrates the pressing need for robust data governance.
The forum featured keynotes and discussions from industry leaders, including Milly Isingoma Nalukwago, the director of statistics at the Bank of Uganda, who emphasized the competitive advantage gained through data quality and governance. Solomy N. Luyombo of Centenary Bank spoke on the importance of leadership in fostering a culture of data governance.
The event, held online had the goal of deepening understanding of data governance in organisational settings. Other speakers included; Osbert Osami from Centenary Technology Services, Edna Kasozi from the Personal Data Protection Office, and Stanbic Bank’s Elly Beingana, who all provided valuable insights into data management and compliance.
Formerly known as The Uganda Institute of Bankers, UIBFS has been a cornerstone for banking education in Uganda since its establishment in 1990.
