The Bank of Uganda (BoU) on Friday approved Doreen Rutazaana’s appointment as a director to the Board of Directors of Micropay (U) Limited, marking a significant development for Uganda’s expanding fintech landscape.
Following a rigorous “Fit and Proper” screening process, this regulatory approval confirms the appointment of an experienced financial inclusion professional to the leadership of one of Uganda’s most significant digital financial service providers.
Rutazaana’s prestigious career and demonstrated expertise are evidenced by her appointment to Micropay’s Board.
The Central Bank’s dedication to strong governance within the regulated financial sector is demonstrated by her nomination by shareholders and subsequent successful completion of the Bank of Uganda’s rigorous assessment, which examines integrity, competence, and financial standing.
Rutazaana’s portfolio
Rutazaana has more than eighteen years of invaluable experience in financial inclusion, which has been characterized by a strong dedication to increasing underprivileged communities’ access to financial services.
Rutazaana has been at the forefront of revolutionizing the digital financial management of informal savings groups, including Investment Clubs, SACCOs, and Village Savings and Loan Associations (VSLAs), as the CEO of Cinnamon Solutions, a flourishing fintech company in Uganda.
Her broad experience includes senior roles at well-known financial institutions. In her previous role as Head, Enterprise Banking at Absa Bank, she oversaw the strategic planning and execution of initiatives related to supply chain development, agriculture, women in business, and small and medium-sized enterprises (SMEs).
Rutazaana had important positions before Absa, such as Manager of Transactional Banking at KCB Bank, Head of Business and Institutional Banking at Post Bank, and Head of Transactional Banking at NCBA.
She has a thorough understanding of financial product development, market penetration, and customer-centric strategies across multiple segments thanks to her varied experience.
Advantages of Rutazaana’s appointment as Micropay’s director
Significant advantages are anticipated from Rutazaana’s appointment to the Micropay board, some of which include:
Her extensive understanding of financial inclusion, especially in rural areas and the informal sector, will be crucial in directing Micropay’s strategic choices.
This knowledge can help create digital financial products that are more specialized and easily accessible, increasing Micropay’s influence and reach.
Rutazaana’s vast experience in regulated banking settings and the BoU’s rigorous screening procedure will strengthen Micropay’s governance frameworks and compliance standards, promoting increased stability and trust inside the company.
With Rutazaana on board, Micropay, a top provider of digital financial services, is well-positioned to advance Uganda’s national financial inclusion agenda.
Her enthusiasm for empowering young people, smallholders, agribusinesses, and rural communities is in line with the nation’s efforts to digitise financial services and guarantee greater access to capital and financial resources.
In order to bridge the gap between traditional informal finance and contemporary digital platforms, Rutazaana’s leadership at Cinnamon Solutions, which focuses on digital solutions for savings groups, indicates a strong potential for Micropay to innovate in areas that directly address the needs of underserved populations.
For present and potential investors in Micropay, the Central Bank’s official endorsement of such a highly qualified individual lends legitimacy and assurance, demonstrating a strategically sound and well-run business.
This significant achievement demonstrates a dedication to luring elite talent and upholding strict regulatory standards, which supports the expansion of Uganda’s fintech industry.
Now that Rutazaana is a Director, Micropay will be able to further establish itself as a major force in advancing Uganda’s financial future toward greater inclusivity and digital empowerment.