SHANGHAI — Centenary Group, one of Uganda’s largest financial services institutions, has signed a strategic technology partnership with Huawei Technologies (Uganda) Company Limited in a move both companies say could reshape how millions of Ugandans access banking and digital financial services.
The agreement, signed on May 21 in Shanghai, China, aims to accelerate Centenary Group’s digital transformation using artificial intelligence, cloud computing, cybersecurity systems and data-driven banking technologies.
For Centenary Bank’s more than four million customers, many of them in rural and peri-urban communities, the partnership could eventually mean faster loan processing, smarter mobile banking services, stronger cybersecurity protections and financial products tailored more closely to people’s daily lives.
The deal follows a high-level visit by Centenary Group executives to Huawei’s global headquarters in Shenzhen in April, where the Ugandan delegation toured technology innovation centres and studied banking systems being used across Asia and other parts of Africa.
According to the companies, the partnership is not simply about upgrading software systems. It reflects a broader shift in how banks are beginning to operate in an era increasingly shaped by artificial intelligence and digital finance.
At the centre of the agreement is what Centenary describes as a “Bank 5.0” strategy — a banking model where artificial intelligence, real-time data systems and cloud infrastructure are integrated into nearly every aspect of financial services.
In simple terms, this means banks rely less on slow manual systems and more on technology capable of processing information instantly, predicting customer needs, improving fraud detection and expanding access to services through digital platforms.
The partnership outlines eight areas of cooperation, including AI-driven banking systems, cybersecurity protection, data centre modernisation, digital infrastructure development, staff training and joint innovation research.
Cybersecurity has become especially important as financial institutions worldwide face rising risks from online fraud, hacking and digital financial crime.
Centenary officials say the partnership is intended to build long-term internal capacity rather than create dependence on external technology providers.
“Partnerships have always been at the heart of how Centenary Group has grown and this is the most significant we have signed in a generation,” said Prof. John Ddumba-Ssentamu, Executive Chairman of Centenary Rural Development Group Limited.
“Huawei brings global depth; Centenary brings local mission and deep community trust. Together, we are building something that will matter to millions of Africans who deserve the kind of digital & financial inclusion this partnership will make possible,” he added.
The agreement also reflects Uganda’s wider push toward a digitally enabled economy.
The government has increasingly encouraged financial institutions, businesses and public agencies to adopt digital systems under the National Development Plan IV and the country’s Digital Transformation Roadmap.
Financial inclusion, ensuring more people can access affordable banking and financial services, remains a major national development priority, especially in rural communities where formal banking has historically remained limited.
Centenary Bank has long positioned itself as a bank focused on underserved communities, small businesses and rural customers.
Fabian Kasi, the Managing Director of Centenary Bank, said customer expectations are changing rapidly as technology reshapes financial services globally.
“Banking in Uganda is changing faster than at any point in our forty-year history,” Kasi said.
“Customers expect faster credit decisions, smarter services, a bank that anticipates their needs rather than waiting for them to walk through the door. This partnership gives Centenary Bank the technology foundation to deliver exactly that,” he added.
Dr. Grace Ssekakubo, Chief Executive Officer of Centenary Technology Services, said the agreement gives the institution direct access to Huawei’s expertise in artificial intelligence, enterprise systems and data governance at a critical moment in the Group’s technological expansion.
Data governance refers to the systems and policies organisations use to manage, protect and organise large volumes of digital information securely and efficiently.
The partnership could also strengthen Uganda’s ambitions of positioning itself as a regional technology and digital finance hub.
Centenary Group already operates a Tier 3 Data Centre in Masaka, a high-capacity facility designed to support secure and reliable digital services infrastructure.
Officials say investments in digital infrastructure could help attract more technology investment into Uganda while creating demand for high-level technology skills.
Huawei Uganda Managing Director Zhang Hao described Uganda as one of Africa’s fastest-evolving financial services markets.
“Africa’s financial services sector is among the most dynamic in the world, and Uganda is at its leading edge,” Zhang said.
He added that Huawei plans to apply lessons learned from working with more than 5,600 financial institutions across 80 countries to support Centenary Group’s transformation agenda.
For Uganda’s banking sector, the partnership signals how rapidly competition is shifting beyond physical branches toward technology, data systems and digital customer experience.
And for millions of customers, particularly outside major cities, the real test may ultimately be whether these technologies make banking faster, safer and more accessible in everyday life.