The Bank of Uganda has granted a Payment Systems Operator (PSO) license to Flutterwave, a well-known payments technology business.
This adds Uganda to Flutterwave’s expanding list of operating nations, which represents a significant turning point in the company’s African development.
More than 78% of Ugandans are under 35, and this youthful, dynamic population is driving changes in the country’s digital payment ecosystem.
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This group offers a previously unheard-of chance to promote financial inclusion and digital innovation while also advancing economic growth.
Founded in 2016, Flutterwave has emerged as a cornerstone of Africa’s digital economy, with a mission to simplify payments for endless possibilities. Leveraging its advanced technology and deep understanding of African markets, Flutterwave offers a comprehensive suite of payment solutions tailored to the country’s unique needs. From mobile money integration — crucial for Uganda’s predominantly mobile-first population — to seamless cross-border payment capabilities, Flutterwave is uniquely positioned to bridge the gap between Uganda and the global economy.
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With the PSO license, Flutterwave will offer payout services for disbursing funds like salaries and commissions, invoicing solutions for easy tracking and payment collection, and mobile money integration to provide convenient and accessible payment options for Ugandans. The license will also streamline fund transfers and payment collections across diverse customer segments and locations in Uganda, enabling businesses to benefit from efficient, reliable, and tailor-made payment solutions through either Flutterwave for Business or SendApp.
Commenting on the license approval, Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave, said, “Securing this license in Uganda is a significant step towards realising our vision of a financially connected Africa. At Flutterwave, we believe that the future of Africa lies in its ability to seamlessly connect its people, businesses, and economies through technology. We are excited to contribute to this journey, empowering Ugandan businesses and individuals to harness the full potential of digital payments and drive inclusive growth.”
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Oluwabankole Falade, Chief Regulatory Officer at Flutterwave, added: “The acquisition of this license further solidifies our standing as a leading payment technology service provider in Africa. We are deeply committed to adhering to all regulatory requirements and maintaining a strong relationship with the Bank of Uganda to ensure our services remain safe, secure, and beneficial to the Ugandan people.”
Flutterwave’s entry into Uganda follows its recent acquisitions of payment licenses in Ghana and Mozambique, further expanding its footprint and enhancing its ability to offer seamless and secure payments across the continent.has context menu.
