Ssebugwawo transforms to become women financial inclusion champion

The state minister for ICT Joyce Nabbosa Ssebugwawo was recently named as the top-ranking woman in the 2024 Women in FinTech awards organised by HiPipo.

The former Lubaga Mayor was recognised for her relentless support towards empowering young women, especially in financial technology innovation and entrepreneurship, writes Ashley Aine. 

There was a mix of shock and excitement when President Museveni appointed Ssebugwawo as state minister for ICT in 2021. For sceptics, Ssebugwawo was being rewarded for her switch from FDC to NRM following her auster as Lubaga mayor.

For the optimists, however, this was a new beginning for Ssebugwawo who holds the power of advocacy that had endeared her among her constituents in Lubaga and within her former party FDC where she served as a vice president.

As one of the directors at Buganda’s Central Broadcasting Services (CBS), she was also seen as a seasoned media owner with the communications spirit at heart.

Three years down the road, Ssebugwawo is reaping the rewards. Her recent award as the top-ranking ‘100 Women in Fintech’ is a testament to her continued advocacy for women empowerment and fintech innovation.

According to Innocent Kawooya, the CEO of HiPipo, the organisers of the top 100 Women in FinTech awards, Ssebugwawo exemplifies unequaled dedication.

“She prioritises mentoring and guiding women innovators at every ICT gathering and actively participates in branding initiatives, such as the Women in FinTech hackathon. As Uganda’s minister of ICT, she leverages her political role to champion policies and regulations that favour innovation, ensuring inclusivity and maximising the continent’s digital dividend for sustainable economies. Her commitment and active involvement set a powerful precedent for national and continental progress,” he said.

Kawooya says Ssebugwawo’s recognition as Number One on the 2024 100 #WomenInFinTech list is not just a personal achievement; it symbolises the collective progress of creating an inclusive financial ecosystem.

In her acceptance speech, Ssebugwawo expressed gratitude towards President Museveni for the trust placed in her and lauded HiPipo, the LevelOneProject, and the Bill & Melinda Gates Foundation for their commitment to nurturing a world where women’s economic empowerment and financial inclusion are not just ideals but realities.

“I am so excited to receive this award from HiPipo. With this award, I will be able to continue working very hard to promote young girls in fintech. I want to thank the partners such as the Bill and Melinda Gates Foundation…” she said.

In her speech at the 2023 Women in FinTech Summit in Kampala, Ssebugwawo reiterated the need to prioritise financial inclusion for women.

“In Uganda, where women constitute 50.71% of the population as of 2020, a significant proportion is still among the unbanked. They face daunting challenges, from accessing digital technology to acquiring the necessary skills and financial products. This is where HiPipo’s Women in FinTech program steps in, offering a solution and a promise of empowerment and hope,” she said.

“The partnership between HiPipo and the ministry of ICT is particularly significant. It transcends the provision of services and delves into the heart of social norms that hinder women’s financial advancement. HiPipo’s steadfast focus on gender sensitivity and proactive measures to promote women’s financial and economic empowerment deserves commendation. The Women In FinTech Summit is a shining example of their dedication.”

Top 100 Women in FinTech

The WomenInFinTech awards, through its celebration of ‘New Voices & Women Leaders,’ annually shines a spotlight on 100 trailblazing women reshaping the financial technology landscape.

The awards were launched in 2023 with Damali Ssali from Private Sector Foundation Uganda becoming the first-ever winner.

“These awards are part of our broader Include Everyone Program under which we run the annual Women in FinTech project. They, therefore, uphold our pledge to recognise, celebrate and honour extraordinary women connecting communities, revolutionising financial transactions and fostering the sharing of invaluable information,” Kawooya said.

The annual awards recognize women making a difference in financial technology from across the world, with a major focus on Africa.

“These exceptional women connect people and revolutionise how we transfer, save, manage money, and share information,” he added.

The 2024 listing offers a compelling statistical insight into the multifaceted nature of success in the fintech innovation sector for women.
It showcases various attributes among the top 100 Women In FinTech, including entrepreneurship, influence, advocacy, and skills. A correlation analysis of these attributes reveals a harmonious interplay of these factors in shaping their success stories.

According to Joseph Kimbowa, the chief content officer at HiPipo, the results show that women with high entrepreneurial scores also tend to have increased influence scores. This suggests that those adept at launching and managing startups or innovative projects will likely wield significant influence within the fintech community.

“A strong positive correlation between advocacy and skills indicates that women actively advocating for fintech and its broader applications are also highly skilled. This pairing of advocacy with expertise underscores the importance of knowledgeable voices in leading the conversation and driving change within the sector,” he said.

In the 2024 Top 100 Women in FinTech ranking, there are at least 40 women from four East African countries of Uganda, Kenya, Tanzania and Rwanda.

“The fact that East Africa has the biggest representation in this listing exemplifies the surge in the innovation, adoption and implementation of digital financial services across the region. More women are starting fintech companies. More women are innovating digital solutions to financial technology and more women are advocating for women’s empowerment,” Kimbowa noted.