Uganda: Financial Inclusion - a Conversation With Dr. Theopista Ntale Sekitto

12 April 2024
Graça Machel Trust (Johannesburg)
interview By Sarah Mpata

"Working with the Trust made me appreciate the gap between the women who have a voice and the women who need our voice more."

Dr. Theopista Ntale Sekitto is among the few women at the centre of financial inclusion and social innovation in Uganda. As a seasoned banker, social entrepreneur, and philanthropist, Dr Sekitto serves as the Uganda Country Director of New Faces New Voices (NFNV), a Graça Machel Trust initiative promoting financial inclusion of women at different levels of the economy. Dr. Sekitto has earned prestigious honours for championing women's economic inclusion. As the Africa Ambassador for the Financial Alliance for Women, she collaborates with African banks to tailor financial products to women. Her achievements have been recognised internationally with the Global Village Award and the title of one of the "100 Top Women in the World Making a Difference" by TIAW in 2013. At home, her contributions were celebrated with Uganda's Presidential Gold Jubilee Medal in 2016. In this candid interview, she reflects on her journey with NFNV and the profound lessons learned along the way.

Question: Dr. Sekitto, your journey with NFNV began quite early. What motivated you to become one of its founders?

Theopista: "My involvement with NFNV started in 2013 when I was leading a women's programme supported by the International Finance Corporation (IFC). Mrs. Graça Machel's vision aligned with my own, seeking out individuals committed to women's economic advancement, particularly in financial inclusion. As someone already known in this space, it was a natural step for me to help establish the network and oversee its implementation in Uganda."

Question: What aspects of your work with NFNV do you find most fulfilling?

Theopista: "There is a profound satisfaction in witnessing the tangible impact of our interventions. For example, by developing the Financial Inclusion through Savings and Village Enterprises (FinSave) model, we have brought finance to remote areas, transformed community dynamics, reduced domestic violence, and seen remarkable academic improvements. It is especially heart-warming when such initiatives gain national recognition, as with the Presidential Gold Jubilee Medal I received. When Mrs Machel visited Uganda and we went to the State House, the President already knew about it."

Question: how do you think being a woman has disadvantaged you and how do you feel about it?

Theopista: "As a woman, I possess a unique perspective when discussing women's issues -- there's a level of relatability that's undeniable. However, this can also attract bias and misinterpretation, particularly in areas yet to fully recognise the contributions of women. For instance, I have faced criticism from those who suggest my opposition to polygamy is simply due to my gender. These instances reflect a broader misunderstanding of our advocacy, which is not about challenging personal life choices, but rather about amplifying the voices of women in every aspect of society."

Question: Your collaboration with the Graça Machel Trust has been very important. Can you elaborate on this partnership?

Theopista: "We are a strategic and implementing partner. Working with the Trust has given us a sense of legitimacy and a broadened platform for visibility. It has also been a journey of growth, teaching me the importance of advocacy and practical policy-making - translating research into actions and systems like the Citizens Financial Reference Bureau, which continues to promote women in financial inclusion today."

Question: What key insights have you gained from your work with the Trust?

Theopista: "My experience with the Trust has been invaluable in mastering advocacy and developing policy documents. For instance, our research funded by UN Women on financial access for women in SMEs led to the creation of the Citizens Financial Reference Bureau. We discovered a critical gap in understanding among women regarding financial agreements, which propelled us to establish a guidance centre for them. Furthermore, our studies on Digital Lending Practices revealed the need for 'digital borrowing guidelines' to protect consumers, prompting government action to regulate digital lenders. This work is significant as it not only informs policy but also directly impacts women's financial literacy and inclusion."

Question: In what ways has the Trust contributed to the success of NFNV- Uganda?

Theopista: "The Trust has greatly enhanced our organisation's reach and reputation, has opened doors, granting us immediate legitimacy and increased visibility. Our affiliation with the Trust amplifies our efforts on a larger scale. Additionally, through the Trust, I have gained invaluable knowledge in women's leadership, advocacy, and strategic planning, which has been important for our the growth of our network. The Trust has also expanded my professional network significantly, connecting me with influential figures across different continents, which has been instrumental in advancing our mission of financial inclusion for women."

Question: Looking back, what moments with the Trust stand out for you?

Theopista: "A key highlight was in 2017 when I received recognition from Mrs. Machel during one of our Women Networks Conference in Mozambique for my active contribution to the Trust. Another is the success of the FinSave model, which was a testament to our collaborative spirit and strategic risk-taking."

Question: How has your association with the Trust impacted you professionally?

Theopista: "Working with the Trust made me appreciate the gap between the women who have a voice and the women who need our voice more. The majority of women, especially on the African continent, because the ecosystem they are in does not allow them to speak up for themselves. So we have the obligation as women who are at a certain level to be their voice. I have also come to appreciate that when we talk about inclusion, financial inclusion, and social inclusion, it is not just a policy document but a practice that is so intentional that one can easily measure it even when you are gone. Yes, I used to talk about inclusion, but working with the Trust, I have come to appreciate that It is not just a paper, but a practice. People have to know that inclusion is the way to go for everything and not just talk about it but practice it. Be intentional that you can measure it and say this is where I found this community, this was my intervention and these are my results -you know, visible results."

In her pursuit of inclusive financial environments, Dr. Sekitto is a voice for change. Her leadership is shaping the path for generations to come. Catch up on more of her activities below.

Read more on Dr. Theopista Ntale Sekitto NFNV activities in this blog and more here.

Read the original article on Graça Machel Trust.

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