Makerere University has made a bold leap into the future of technology and finance by signing a groundbreaking Memorandum of Understanding (MoU) with SoonPay, a U.S.–based fintech and blockchain company. The announcement coincided with the launch of the first-ever Makerere University Financial Innovation Day, which drew over 800 students, industry experts, and partners eager to explore the frontier of financial technology in Africa.
The event, held at the Makerere University Technology and Innovation Centre (MUTIC), brought together academia, innovators, and industry leaders under the theme “Innovation and Financial Inclusion for a Secure Future.” Organizers described the partnership as a platform to equip students with the skills and exposure needed to shape Africa’s financial ecosystem using advanced technology.
In his opening remarks, Vice Chancellor Prof. Barnabas Nawangwe urged students to embrace emerging technologies as catalysts for Africa’s development. He stressed that the continent’s greatest asset is its youthful population, capable of driving transformative innovation if empowered with the right knowledge and opportunities.
“The next technological revolution will not wait for us,” Prof. Nawangwe cautioned. “Africa has the talent; what it needs is courage and decisive action. Blockchain, if applied strategically, can transform education, finance, and resource management. Many of you could leave here as leaders of the next generation of African tech enterprises.”
SoonPay CEO Frantz Morency reinforced this message, highlighting Africa’s historical underrepresentation in global technological and financial systems. He pointed out that while Africa accounts for just 0.33% of global blockchain adoption, the continent’s potential vastly exceeds current engagement. Morency emphasized the urgency for Africans to reclaim their place as innovators on the world stage.
Morency further explained that Uganda was deliberately chosen as the starting point for SoonPay’s African operations due to its unique financial and healthcare challenges. “With Makerere University as our partner, we aim to bridge opportunity gaps and equip students to lead in blockchain and fintech globally,” he stated, emphasizing the long-term vision of the collaboration.
The partnership is set to offer hands-on blockchain training, joint research initiatives, fintech tool development, and innovation programs. Students will gain access to certifications, international internships, and opportunities to commercialize their projects, combining academic learning with real-world experience.
Dr. Cathy Ikiror Mbidde, Head of MUTIC, described the MoU as a historic step for Makerere University, capable of turning research into tangible solutions that impact lives. The event also highlighted students’ excitement for blockchain technology, with many expressing eagerness to participate in SoonPay’s apprenticeship and innovation programs, signaling a bright future for Africa’s next generation of tech leaders.
