Education
Why digital money is the new ‘sexy’ trend university students should embrace
“Once you embrace digital transactions, the general public will follow because you are many," Jonah Waiswa, the head of stakeholder engagement at Bank of Uganda, tells university students.
Students of Gulu University attend an orientation session for Season 4 of The Ultimate University Quiz at the university campus in Gulu City on August 26, 2026. (Credit: Godfrey Ojore)
By: Godfrey Ojore, Journalist @New Vision
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ULTIMATE UNIVERSITY QUIZ SEASON 4 ORIENTATION
📍 Gulu City
University life is often associated with adventure, new friendships, trendy smartphones and a unique vocabulary of slang that instantly distinguishes campus students from the rest of society.
But beyond the latest gadgets and fashionable expressions, university students are being challenged to embrace another modern trend of going digital with their money.
Jonah Waiswa (pictured below), the head of stakeholder engagement at Bank of Uganda, says students have the numbers and influence to drive the country towards a cashless economy by embracing digital transactions.
▪️ 'Future belongs to hardworking young people'
Addressing Gulu University students on Wednesday (August 26) during the orientation of the students for Season 4 of The Ultimate University Quiz, Waiswa (pictured above) challenged them to ditch the habit of carrying physical cash and instead champion digital payment methods such as mobile money, Visa and other electronic platforms.
“Dealing with physical money spreads diseases and, as you give your girlfriend money, you can infect her. Are you an enemy to your own girlfriend?
"Digital transactions are sexy and romantic, and you should embrace them in this era,” he quipped, drawing laughter and cheers from the students.
▪️ Soroti University on quest for ultimate glory
Waiswa said university students should not simply adopt digital payments for personal convenience but they should also demand that businesses provide modern payment options.
He urged students to encourage supermarkets and other businesses to accept mobile money and Visa payments, among other electronic methods.
“Once you embrace digital transactions, the general public will follow because you are many. We would also save the Central Bank the cost of printing physical currency."
▪️ Busitema University sets sights on Season 4 title
Bank of Uganda is the platinum sponsor of The Ultimate University Quiz, an annual competition organised by multimedia company Vision Group.
The other sponsors are Uganda Communications Commission (UCC), Uganda Revenue Authority (URA), Turkish Airlines, Capital Markets Authority and Parliament of Uganda.
Learning beyond classroom
Before the quiz begins, the students of the participating chartered universities — 20 institutions this year — are taken through an orientation session featuring the organiser and the sponsors.
Gulu University in Gulu City became the fourth university this season to undertake the orientation, after Busitema University, Soroti University and Lira University.
Dr Saidat Nakitto (pictured below), the dean of the Faculty of Law at Gulu University, said the engagement would give the students an opportunity to acquire practical knowledge that complements what they learn in lecture rooms.
"We are training our students to bring out the best in themselves, and when stakeholders such as Bank of Uganda, Vision Group, URA and UCC come in to work with us, we are very happy,” said Nakitto.
“We pledge our support to Vision Group and shall continue mobilising students to always take part in the competition because there is so much to learn."
Online safety
While encouraging students to embrace digital technology, Edgar Francis Ssegujja (pictured below), UCC's Senior Officer for North-Eastern region, reminded them that the digital world also comes with risks.
Ssegujja said the quiz orientation provides the Commission with an important platform to increase awareness about online safety.
“This platform of The Ultimate University Quiz gives us an opportunity to engage students and create awareness about issues that affect them, such as cyber-bullying and harassment, mobile money fraud, data depletion as well as device loss or theft."
Ssegujja said that as young adults, students need to be responsible while online and avoid sharing irrelevant material.
He urged them to be more cautious about the information they share online and to protect themselves from cyber-related threats.
"Do not share your PIN or password with anyone."
'Turn tax knowledge into opportunity'
Before the quiz begins, the students of the participating chartered universities — 20 institutions this year — are taken through an orientation session featuring the organiser and the sponsors.
Gulu University in Gulu City became the fourth university this season to undertake the orientation, after Busitema University, Soroti University and Lira University.
Dr Saidat Nakitto (pictured below), the dean of the Faculty of Law at Gulu University, said the engagement would give the students an opportunity to acquire practical knowledge that complements what they learn in lecture rooms.
"We are training our students to bring out the best in themselves, and when stakeholders such as Bank of Uganda, Vision Group, URA and UCC come in to work with us, we are very happy,” said Nakitto.
“We pledge our support to Vision Group and shall continue mobilising students to always take part in the competition because there is so much to learn."
Online safety
While encouraging students to embrace digital technology, Edgar Francis Ssegujja (pictured below), UCC's Senior Officer for North-Eastern region, reminded them that the digital world also comes with risks.
Ssegujja said the quiz orientation provides the Commission with an important platform to increase awareness about online safety.
“This platform of The Ultimate University Quiz gives us an opportunity to engage students and create awareness about issues that affect them, such as cyber-bullying and harassment, mobile money fraud, data depletion as well as device loss or theft."
Ssegujja said that as young adults, students need to be responsible while online and avoid sharing irrelevant material.
He urged them to be more cautious about the information they share online and to protect themselves from cyber-related threats.
"Do not share your PIN or password with anyone."
'Turn tax knowledge into opportunity'
Wednesday's quiz orientation also exposed Gulu University students to tax education, with URA Tax Education Officer Derrick Muhire (pictured below) encouraging them to use their knowledge to help their families and communities.
Muhire warned students about individuals who exploit taxpayers by charging them exorbitant fees to access basic URA services.
“Since our parents are being cheated by some people who charge exorbitant fees to obtain Taxpayer Identification Numbers (TINs), you can take it up after today. With the knowledge you have gained, you can help others obtain TINs and earn some income to support yourself at university."
Muhire said some people charge as much as sh200,000 to obtain a TIN, despite the service being available free of charge online.
He said URA remains committed to expanding tax education so that more Ugandans understand their obligations and become tax compliant.
Beyond the competition itself, the orientations are turning university campuses into spaces where students can gain practical lessons on money, technology, taxation, digital safety and career readiness, proving that learning does not always have to end when the lecturer leaves the lecture room.
The quiz orientation will next move to Muni University in Arua City in West Nile region this Friday (August 28).
Prizes and pride
The quiz competition is scheduled to kick off on October 3, with the grand finale set for November 26.
Just as in previous seasons, the university that will reign supreme as champion this year will get a trophy and equipment worth sh25 million.
Each contestant and coach of the winning university will also receive a cash reward of sh1 million and a brand-new laptop.
The first runner-up (second place) university will receive equipment worth sh15 million and each contestant and coach will walk away with a sh500,000 cash reward and a laptop.
The second runner-up (third place) university will be rewarded with equipment worth sh10 million and each contestant and coach will get a sh400,000 cash reward and a tablet.
The third runner-up (fourth place) university will receive equipment worth sh5 million and each contestant and coach will receive a sh300,000 cash reward.
Mbarara University of Science and Technology (MUST) was the champion of the inaugural season, Gulu University took the title in the second season while Uganda Christian University (UCU) is the reigning champion.
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Muhire warned students about individuals who exploit taxpayers by charging them exorbitant fees to access basic URA services.
“Since our parents are being cheated by some people who charge exorbitant fees to obtain Taxpayer Identification Numbers (TINs), you can take it up after today. With the knowledge you have gained, you can help others obtain TINs and earn some income to support yourself at university."
Muhire said some people charge as much as sh200,000 to obtain a TIN, despite the service being available free of charge online.
He said URA remains committed to expanding tax education so that more Ugandans understand their obligations and become tax compliant.
Beyond the competition itself, the orientations are turning university campuses into spaces where students can gain practical lessons on money, technology, taxation, digital safety and career readiness, proving that learning does not always have to end when the lecturer leaves the lecture room.
The quiz orientation will next move to Muni University in Arua City in West Nile region this Friday (August 28).
Prizes and pride
The quiz competition is scheduled to kick off on October 3, with the grand finale set for November 26.
Just as in previous seasons, the university that will reign supreme as champion this year will get a trophy and equipment worth sh25 million.
Each contestant and coach of the winning university will also receive a cash reward of sh1 million and a brand-new laptop.
The first runner-up (second place) university will receive equipment worth sh15 million and each contestant and coach will walk away with a sh500,000 cash reward and a laptop.
The second runner-up (third place) university will be rewarded with equipment worth sh10 million and each contestant and coach will get a sh400,000 cash reward and a tablet.
The third runner-up (fourth place) university will receive equipment worth sh5 million and each contestant and coach will receive a sh300,000 cash reward.
Mbarara University of Science and Technology (MUST) was the champion of the inaugural season, Gulu University took the title in the second season while Uganda Christian University (UCU) is the reigning champion.
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