Bank of Uganda Approves Doreen Rutazaana as Director on Micropay Board, Signaling Major Boost to Fintech Sector

In a notable step for Uganda’s evolving fintech sector, the Bank of Uganda has officially approved the appointment of Ms. Doreen Rutazaana as Director on the Board of Micropay (U) Limited. The move follows a rigorous “Fit and Proper” vetting process conducted by the Central Bank, underscoring the regulatory commitment to strong corporate governance and professional integrity in the financial services space.

Rutazaana, a veteran financial inclusion expert with over 18 years of experience, joins Micropay at a pivotal time in the company’s journey to expand access to digital financial services, especially among underserved and rural populations. Her approval signals renewed momentum in Uganda’s drive towards greater financial inclusion and digital transformation.

Currently the Chief Executive Officer of Cinnamon Solutions, a fast-growing Ugandan fintech, Rutazaana has dedicated much of her career to digitising financial management among informal community-based savings groups—ranging from SACCOs and Village Savings and Loan Associations (VSLAs) to investment clubs.

Her broad professional background includes leadership roles at several top-tier banks. She previously served as Head of Enterprise Banking at Absa Bank Uganda, where she championed SME development, agricultural finance, and women-led business initiatives. Her earlier roles included Head of Transactional Banking at NCBA, Head of Business and Institutional Banking at PostBank Uganda, and Manager for Transactional Banking at KCB Bank.

This wealth of experience is expected to bring transformative insights to Micropay’s board, especially in crafting inclusive financial products, deepening rural penetration, and scaling digital innovations tailored to low-income and unbanked communities.

Her appointment also brings enhanced credibility to Micropay’s governance structure. The Bank of Uganda’s endorsement, following a stringent background and competency review, is a vote of confidence in both Rutazaana’s qualifications and the company’s corporate stewardship.

With her on the board, Micropay is well-positioned to accelerate its mission of democratizing access to digital financial services. Industry experts see this as a move likely to spur new innovations, especially in areas where digital solutions can complement traditional savings practices, and help unlock formal financial pathways for millions of Ugandans.

Investors and stakeholders alike are expected to view this development as a positive signal for both the firm’s trajectory and Uganda’s broader fintech ecosystem. By strengthening its leadership and aligning with the regulatory push for sound governance, Micropay is poised to become a stronger catalyst in the country’s financial inclusion and digital transformation agenda.

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