Five-year partnership to be executed through FlyHub, Stanbic Uganda’s Fintech subsidiary
Stanbic Uganda Holdings Limited (SUHL), through its Fintech subsidiary FlyHub, has announced a five-year partnership with Refactory—a training academy that offers alternative industry-led skilling services for the technology sector.
The partnership signed today 22nd - March at SUHL offices in Kampala will help equip local business leaders, entrepreneurs, government, and civil society organizations with strategic support and skills to enable them to guide their respective companies through the digitization process.
Speaking shortly after the signing ceremony, FlyHub Chief Executive Joel Muhumuza said that through a series of Masterclasses, business leaders will undergo tailored training modules to help them understand how they can best steer their teams as they invest in information technology assets.
Business leaders who will participate in the training will be enabled to access digital software development services from FlyHub and Refactory on a trial basis before they decide to formally enlist for expert support.
“This partnership will help demystify, through the masterclasses, what digital transformation for businesses means by creating a tool kit to allow institutions, and individuals to evaluate themselves and see where they need to begin, and what potential tools they need to go to the next level.
With this information, participants will either take the choice to find suitable solutions for themselves from the market or engage FlyHub and Refractory to build and deploy the desired solutions in their respective organizations,” said Muhumuza.
Michael Niyitegeka, the Programme Director at Refactory said, “we are excited to enter this partnership with Stanbic Uganda and very much looking forward to collaborating with FlyHub to support business leaders and individuals to navigate their digital transformation journeys.”
In addition to designing the masterclasses, FlyHub and Refactory will collaborate in developing toolkits that will be availed to all customers of Stanbic Uganda Holdings to use in the process of examining their respective organization’s digital transformation readiness.
Driving Uganda’s digital transformation agenda
Andrew Mashanda, the Chief Executive of SUHL said the partnership with Refactory is in line with Stanbic Uganda’s purpose of driving Uganda’s growth.
“The partnership will create industry-relevant tools to quicken the pace of digital transformation in line with Uganda’s National Development Plan “Vision 2040”, and The National ICT Digital Uganda Vision both of which are relevant to Stanbic Holdings' vision of becoming a platform business that leverages digital technology to improve the overall client experience and tap into new ecosystems,” said Mashanda.
Digital transformation is when business processes, culture, and customer experiences are altered with the use of new digital technologies in a customer-focused manner, where every aspect of processes is revisited to create the ultimate digital experience for all.
While the government and leaders in the private sector appreciate that digital transformation is vital to the development of the country, there is an apparent lack of understanding of exactly where to begin, what tools are appropriate for them to use, and how they can make wise investments in the right technology when they just want to focus on their businesses.
“On top of the limited technical know-how, there are genuine concerns regarding cyber security, data protection, and the high cost of high-tech that come along with the opportunity to utilize digital technology; wading into this without guidance can be a big challenge and we hope that this partnership with Refactory will be of great help,” added Muhumuza.
At least four targeted Masterclasses shall be organized—one per quarter over the next five years, with each intake targeting at least two dozen business leaders. The training will be tailored to address the actual needs of the participants.