On Saturday 6^th December 2025, Makerere University entered into a ground-breaking partnership with the U.S.-based fintech company SoonPay, marking a major breakthrough in Uganda’s push to integrate emerging technologies into research, innovations, higher education and national development.

The Memorandum of Understanding was signed by the Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe and Mr. Frantz Morency, Chief Executive Officer of SoonPay L.L.C, during the Makerere University Financial Innovation Day, a high-energy event that brought together over 800 students, faculty, industry partners, and technology leaders.

The MoU institutionalizes the collaboration of Makerere University through the Makerere University Technology and Innovation Centre and SoonPay LLC. The signing ceremony was witnessed by Dr. Cathy Ikiror Mbidde-Manager of Makerere University Technology and Innovation Centre and Ms. Vuyani Jones-Blockchain Infrastructure Manager.

Organized by the Makerere University Technology and Innovation Centre (MUTIC) in partnership with SoonPay, the event ran under the theme “Innovation and Financial Inclusion for a Secure Future.” It featured keynote speeches, panel discussions, live demonstrations, and the signing of a Memorandum of Understanding (MoU) that will usher in a new era of blockchain training, research, and innovation at Uganda’s premier university.

The event was supported by several partners, including the National Social Security Fund (NSSF), the Uganda Blockchain Association, the National Planning Authority (NPA), Prudential Uganda, and other technology and financial sector stakeholders.

A Strategic Partnership to Transform Africa’s Digital Landscape

The newly signed MoU between Makerere University and SoonPay is expected to unlock a broad set of opportunities for students and academic staff. These include blockchain education and certification, joint research projects, internships and apprenticeships, the development of new financial inclusion tools, and the integration of emerging technologies into existing academic programs.

SoonPay’s entry into Uganda is part of a larger vision to expand blockchain-driven solutions across Africa—a continent its executives say has historically been excluded from global technological revolutions.

Impressed by the overwhelming numbers of students who filled the Yusuf Lule Central Teaching Facility Auditorium to the brim, the Vice Chancellor, said: “Dear students, by choosing to stay on campus, on a Saturday, and after completing your examinations, you have demonstrated your willingness to learn and embrace the blockchain technology as well as emerging technologies in general.”

Stating that blockchain technology is the future for Africa, the Vice Chancellor challenged the students to take charge of Africa’s digital transformation.

“You are the people to emancipate Africa from marginalization,” he declared. “What will liberate our continent is not politics—we have done too much of that. It is education, research, innovation, and technology.”

Prof. Nawangwe delivered a sweeping historical reflection, tracing Africa’s technological setbacks to the destruction of its civilization over several centuries.

“For 400 years, Africans were taken away as slaves. For another 200 years before that, our lands, knowledge systems, and technologies were disrupted,” he said. “This represents around 600 years of destruction and marginalization of African civilization.”

He urged students not to miss the opportunity that modern technologies such as blockchain and artificial intelligence present.

“We are lucky to be living in an era where Africa is free,” the Vice Chancellor said. “My hope is that we do not wait another 600 years to take advantage of this freedom. The most important resource we have is not minerals; it is human resources—you, the youth.”

Prof. Nawangwe reminded students that Makerere’s reputation as the “intellectual capital of Africa” places immense responsibility on their shoulders.

“You are among the very few Ugandans privileged to study at Makerere University. University graduates are not supposed to wait for jobs—you are the ones expected to create them,” he said.

Why Blockchain? Transparency, efficiency, and global competitiveness

The Vice Chancellor highlighted the transformative potential of blockchain technology, especially in improving financial systems—a sector he described as the backbone of any modern economy.

“Without efficient financial systems, nothing else works,” he said. “Blockchain offers transparency, reduces fraud, and minimizes corruption. If applied properly, it could transform how we manage finances, education, and even our natural resources, including the oil that Uganda is about to exploit.”

He added that Makerere’s students are already demonstrating global competitiveness in innovation, winning international competitions and creating products across multiple disciplines.

“The brains are here,” he said. “What we need is exposure to opportunities and technologies that will help you turn your ideas into impactful solutions.”

In a passionate keynote address, SoonPay CEO, Mr. Frantz Morency underscored why his company chose Uganda as its launchpad for blockchain adoption in Africa.

“As the Professor said, we have been excluded for more than 400 years,” he stated. “Even though we’re an American company, we know our roots. Look around the SoonPay team—you will see yourselves. We chose Uganda intentionally.”

Mr. Morency pointed to Africa’s dismal participation in the global blockchain economy. “In the U.S., blockchain generates $2.6 billion—61.7 percent of the world’s share. The rest of the world generates $1.6 billion.  And Africa, just $14 million, or 0.33 percent,” he said. “That is unacceptable.”

He attributed the gap not to a lack of interest among young Africans, but to a lack of opportunity. “You want to learn—what you lacked was opportunity,” he said. “With the support of Professor Nawangwe, Dr. Cathy Ikiror Mbidde, and Dr. Margaret Nagwovuma, SoonPay wants to bridge that gap in education, technology, and economic opportunity.”

Mr. Morency also shared his personal journey, connecting his Haitian background to the aspirations of African youth.

“Many of you may see me as ‘the guy in the green suit,’ but I come from a small island—Haiti,” he said. “My mother never finished first grade; my father never finished second grade. What they gave me was integrity, work ethic, and the determination to seize opportunities when they came.”

He urged students not to seek opportunities abroad out of desperation, but to build meaningful careers in Africa. “Africa does not need to lose its talent. Why can’t you build here? Why can’t businesses, innovation, and prosperity thrive here?” he said. “Educate yourselves. Build. Create. Grow.”

A milestone for Makerere and Africa

Dr. Cathy Ikiror Mbidde, Head of the Makerere University Technology and Innovation Centre (MUTIC), described the event as a “major milestone” in the institution’s evolution.

“We are here to witness one of the key emerging technologies and to reflect on how universities can embrace such milestones,” she said. “Everyone has a role to play in transforming our lives through research, ideas, and projects.”

She thanked SoonPay for choosing Makerere University, noting that students had been “instrumental” in pushing for blockchain education.

“You have been constantly asking questions, pushing us, and showing deep curiosity about blockchain. Today, we finally have answers,” she told the students.

Beyond the speeches, the event showcased SoonPay’s blockchain infrastructure, student-led innovations, and a roadmap for integrating digital finance tools into university programs. Partners such as NSSF emphasized the importance of preparing young people for a digital future.

With the MoU now in force, Makerere University is positioning itself as a regional hub for blockchain education, research, and innovation. The partnership with SoonPay aims not only to train students but to shape Uganda’s—and Africa’s—next generation of tech leaders.