By Pauline Luba
At 29 years old, Abel Namureba has earned the “face of cryptocurrency” nickname in Uganda. He is a passionate fintech (short for “financial technology”) enthusiast.
Namureba’s educational journey began at Hormisdallen Primary School. He went to Seroma Christian High School for his O-Levels, and Turkish Light Academy for A-Levels. Namureba’s fluency in math led him towards a career in finance – eventually leading him to Uganda Christian University (UCU), where he pursued a Bachelor of Science in Accounting and Finance from 2015 – 2018.
“Finance is applied to every aspect of life,” Namureba said.
He stated that while at UCU, he was thinking about the defined success route for accountants. He wasn’t the top or worst student, but he wanted to specialize in something, eventually landing on Bitcoin.
Bitcoin, a form of digital currency, is traded globally across online platforms with a maximum supply of 21 million coins to be in existence. Despite the controversies surrounding Bitcoin, Namureba was intrigued by its potential to reshape the global finance scope, especially in Uganda. He studied it deeply.
During his first year at UCU, Namureba was already with the Uganda Revenue Authority and later contributed to Standard Chartered Bank as a junior associate and worked on projects such as supporting small and medium-sized enterprises. He then volunteered with Binance and actively worked to educate the masses about cryptocurrency. Afterwards, he joined a startup called Yellow Card as Country Manager, significantly growing its user base to over $100,000 and generating $10 million monthly for the firm. Recently, he left Yellow Card to start Itwe Solutions, a finance and technology consultancy, registered in both the United States and Uganda.
Additionally, he recently completed his MBA at Heriot-Watt University in Edinburgh.
For the past decade, Namureba has been a vocal advocate for cryptocurrency in Uganda, frequently appearing on news platforms like CNBC and NTVUganda to debate controversial issues and explain crypto’s dynamics, benefits and pitfalls. He also has participated in the country’s policy creation, the official launch of crypto in Uganda and its ever-evolving regulation by several government bodies.
“Money has evolved, and we are now in a new digital era,” Namureba explains. “Cryptocurrency represents a global currency form.”
However, he warns about the risks, noting that scammers often mislead people into believing they can quickly turn small investments into significant sums such as shs50,000($13) to shs1,000,000 ($272). He stresses that, like all investments, cryptocurrency comes with risks, including fluctuations and potential losses.
Namureba’s personal experience with scams includes losing $20,000 to a fraudster in his early days at Yellow Card. Instead of being discouraged, this experience helped him better understand the industry. He points to infamous cases like the OneCoin scam, where a fraudster embezzled €4 billion ($5.2 billion), from Ugandans, and is among one of the most wanted people in the world by the FBI. Despite the controversies, Namureba remains committed to educating Ugandans about the true potential of cryptocurrency, comparing it to investing in land — a long-term asset that when properly cared for, retained and allowed to grow in value can reap beneficial results.
“Education is key,” Namureba emphasizes. “There is no quick money in crypto.”
He is currently involved in ongoing discussions with the Bank of Uganda, fintech conferences, and blockchain meetings to ensure there are better regulation and protection policies on cryptocurrency and among its users within the country.
When he isn’t working, Namureba enjoys adventurous activities like skydiving, bungee jumping, skating and poetry. Through it all, his faith remains dominant.
A believer in Christ, his name, “Namureba,” meaning “I’ve seen Him (God),” constantly reminds him of this faith.
Born in Kampala and raised in Kanungu and from the Bakiga tribe, Namureba is the youngest son of six of Janet Baryaruha, a businesswoman, and his late father, a soldier. Despite his father’s early death, he remembers a childhood filled with love and provision.
“I live for God’s glory, and I hope to be part of people’s purpose by helping meet their needs,” Namureba said.
His advice to those interested in fintech and crypto is to get informed, volunteer, work for free if necessary and never stop learning.
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