Last year, Africa ranked 3rd for innovative startups designed to increase financial inclusion, boasting over 500 within the developing countries throughout the continent where a majority of the population remains unbanked or underbanked. In Uganda alone, 27% of the population, or roughly 10 million people, live below the poverty line, according to the Uganda National Household Survey (UNHS) 2016/17 report released by the Uganda Bureau of Statistics (UBOS), and a 2017 report by Financial Inclusion Insights states that just 55% of all adults in Uganda have access to formal financial services; of which only 11% hold an account at a traditional bank. Our CEO, Andrew Otiko, acknowledges that, “It is vitally important to tap into the views of the next generation of users of this technology who will be instrumental in shaping the next wave of fintech and promoting greater financial inclusion for all.” To show the company’s commitment to improving the Ugandan economy, Mobinet co-sponsored its first ever Ugandan Universities Debating Championship (UUDC) held at the Pearl of Africa on Friday February 9th in the heart of Kampala. The four competing debate teams shared their perspectives on whether or not Uganda’s rural savings groups and agricultural sector should adopt fintech, whether or not the role of an agent is akin to a bank in areas where banks are unreachable and whether or not agency banking should be exempt from taxation. Makerere University Business School, represented by Walter Niwagaba, Katura Brandon, Massa Kevin and Mugabi Median came in first place, winning an all expense paid trip to Dubai. Prizes such as cell phones and laptop computers were given to remaining teams, Uganda Christian University who came in second place, followed by Kyambogo University in third and Makerere University in forth. The company would like to sincerely thank those who attended the 2018 UUDC and hope you stay tuned for future events.