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ioTec Limited, a business-to-business financial technology company licensed by the Central Bank of Uganda to design and develop payment systems, has appointed Andrew Muhwezi, a seasoned entrepreneur and financial and digital services expert, to head its Board of Directors.
The existence of good corporate governance structures, especially an independent non-executive board that must undergo vetting and approval by the Bank of Uganda, is a key requirement under the National Payment System(NPS) regulations under the National Payment Systems Act.
The board, which the Bank of Uganda has already approved, also includes Jackie Namara Rukare, a Chartered Marketer and Business Consultant; Osbert Osamai, an ICT Expert and Digital Strategist; and Kenneth Kwesiga, ioTec’s Chief Executive Officer.
AF Mpanga Advocates are the Company Secretary.
More about the Board of Directors
Andrew Muhwezi
Board Chairman
Andrew Muhwezi, the Board Chairman is the founding CEO at Penda Capital (www.pendacapital.org), a top financial services firm in East Africa.
Andrew’s life story starts with humble beginnings in Kabale district in Uganda. Early on, he embarked on an entrepreneurial journey to meet his school needs, albeit with a resilient, progressive, and futuristic mindset.
He has had an illustrious career with senior executive roles as a Head of Commercial Banking at Stanbic Bank (U) Limited, Head of Castrol business under British Petroleum, Director of Business at FINCA International and Chief Commercial Officer at JUMIA.
He has also held several fiduciary roles as a board member to the Stanbic Bank Staff Pension Fund, and is licensed as a trustee by the Uganda Retirement Benefits Regulatory Authority (UBRA). He is the current Chairman of the Uganda Imperial Forest Company Limited Board, and an active Consultant at AKN Advocates, a fast-growing Legal firm in Kampala.
Andrew studied Economics at Makerere University and holds a Master’s in Science of Finance from the University of Leicester, UK. He later pursued several professional programs and is a Harvard University-certified Impact Investments and Sustainability Professional.
Osbert Osamai
Board Director
Osbert is an accomplished ICT professional, author and thought leader, adept in executive and technical Leadership roles, boasting extensive experience in the private sector, public sector and Development organisations at mid-management and senior management levels.
His expertise spans diverse fields, including business transformation, enterprise architecture development, strategic planning and implementation, ICT strategy, ICT research, IT service management, enterprise software development and the management of complex projects.
Additionally, Osbert is proficient in stakeholder management, project management, and emerging technologies such as artificial intelligence, big data, data science and cloud computing.
Throughout his 17-year tenure, Osbert has been pivotal in steering successful digital transformation initiatives, working with diverse environments and teams spanning many countries.
His previous engagements have included significant roles at the National Information Technology Authority Uganda (NITA), Tropical Bank and the United Nations Development Programme (UNDP).
A central aspect of Osbert’s professional journey is his passion for supporting developing countries to build their digital transformation. He has supported Egypt, Guyana, India and Uganda in this regard as a global consultant under the UNDP Crisis Bureau.
He is particularly committed to advancing the economy using technology. Osbert is driven by a vision of an Africa where technology bridges the gap between communities and opportunities. He is committed to empowering African businesses and governments with the tools they need to thrive in a digital world.
Outside of his professional endeavours, Osbert is a passionate advocate for education and youth empowerment. He supports several initiatives to provide young Africans with access to quality education and digital skills training.
Osbert holds a Masters in Software Engineering and Data Communications (Makerere University) and MBA (Amity University, India). He possesses the following Industry certifications: TOGAF 9 (Enterprise Architecture), CISA (IT Audit), COBIT (IT Governance), ITIL (IT Service Management), Professional Scrum (PSM 1) and PRINCE 2 (Project Management).
Jackie Namara Rukare
Board Director
Jackie Namara Rukare is a highly experienced marketing and communications professional with a career spanning over 25 years in the fast-moving consumer goods, telecommunications, and financial services industries. As the CEO of Iguru Consult Ltd, a marketing consultancy firm she established, Jackie has successfully supported over 500 SMEs across a diverse range of sectors, including financial services, health, agriculture, hospitality, and technology.
Jackie’s professional journey is rooted in her deep passion for brands and their impact on society. This passion has led her to build and lead marketing and communications teams at some of Uganda’s leading companies, such as Vodafone Uganda, Stanbic Bank, and Airtel Uganda. Her areas of expertise include consumer insight, brand equity management, integrated marketing communication, and enhancing customer experience.
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Beyond her consultancy work, Jackie has made significant contributions to corporate governance. She is the Chairperson of the Board at Capital Solutions Ltd. She also serves on the boards of DataCare (U) Ltd, Egg Production Ltd, and on the Advisory Council of the Uganda Marketers Society. Her previous board roles include positions at the Uganda Health Marketing Group (UHMG) and SINFA Uganda. Jackie is also a committed mentor and coach, dedicated to nurturing the next generation of business and marketing leaders.
Jackie holds a Master’s in Business Administration from the University of Technology Sydney and is a Chartered Marketer and Fellow of the Chartered Institute of Marketing. Her continuous professional development includes a Certificate in Company Direction from the Institute of Directors, UK, and she is an IFC-LPI TPMA Certified Trainer.
She is deeply involved in community service through her role in the Rotary where she is the Assistant Regional Public Image Coordinator for Uganda and Tanzania. Jackie’s advocacy for health, particularly diabetes education, highlights her belief in the power of communication to create meaningful change.
With her strategic insights, extensive marketing expertise, and dedication to community service, Jackie is a valuable asset to the IoTec board.
Brian Kalule
Board Secretary
Brian is a Partner at AF Mpanga Advocates in Uganda.
He is part of the corporate department. His practice areas cover general corporate law, banking and finance, Technology, Media and Telecoms(TMT), Intellectual Property and general commercial dispute resolution.
Brian is a leading technology lawyer in Uganda and advises some of the world’s leading companies. He is also a Certified Information Privacy Professional/ Europe (CIPP/E).
He is a member of the International Bar Association, the International Trademark Association, the International Association of Privacy Professionals, the Uganda Law Society and also a member of the East African Law Society.
Kenneth Kwesiga
Chief Executive Officer
With a distinguished career in management, strategic execution, and executive leadership, especially in the fintech sector, Kenneth has extensive experience across frontier, emerging, and developed markets. His previous roles include leading global teams in technology-driven projects across investment banking, insurance, microcredit, and fintech sectors.
He also serves on the Financial Technology Service Providers Association (FITSPA) board, where he has been instrumental in shaping policies and fostering partnerships through active stakeholder engagement. His contributions have been pivotal in developing the financial technology landscape in Uganda.
Currently pursuing an MBA at Edinburgh Business School, Heriot-Watt University, Kenneth holds a Bachelor of Science with distinction in Computer Applications from Sikkim Manipal University, India.
Known for his strategic vision, professionalism, and drive, Kenneth says, he is committed to advancing ioTec Limited into one of Uganda’s leading financial technology companies.
About ioTec Limited
ioTec’s vision and purpose is to “make financial services accessible and convenient for every citizen” by “providing secure, affordable, and personalised financial services driven by insightful data”.
“For financial service providers dissatisfied with the inability to serve the growing demand for digital financial services due to manual processes and fragmented systems, ioTec Limited offers a unified, secure and affordable digital platform that simplifies and optimises the delivery of financial services to their customers,” the company says on its website.
The ioTec Platform is mostly popular among human resource firms, NGOs, credit providers, licensed money lenders as well as asset financing, insurance and financial technology companies.
These organizations use the platform for robust identity verification, bulk payments to both mobile money and bank accounts, and submission of credit data to credit reference bureaus—all while maintaining consistent communication with their customers.
This versatility, combined with its ability to integrate seamlessly across various services, makes the platform attractive for businesses across multiple sectors, including financial services, transport, logistics, distribution and agriculture.
Commenting about the board appointments, Mr. Kwesiga said that he was “earnestly looking forward to working closely with the board of directors in guiding the strategic direction of the company, upholding its mission and vision, and providing strategic oversight that is necessary to navigate challenges and seize the opportunities ahead, to secure a sustainable future for the organization”.