Mastercard Opens Uganda Office, Reinforcing Commitment to Digital Transformation and Financial Inclusion
Mastercard has announced the opening of its first office in Uganda, marking a significant step in its East African expansion. This move underscores Mastercard’s dedication to fostering financial inclusion and accelerating digital transformation within the region.
With Uganda’s economy projected to grow by 6.2% by 2025, Mastercard’s presence in Kampala will facilitate deeper collaboration with local stakeholders. This collaboration will enable the development of tailored solutions that address the specific needs of Ugandan consumers and businesses, contributing to the nation’s economic growth.
The move aligns with the government’s ‘Digital Uganda Vision,’ an initiative focused on leveraging digital technologies for national development. Mastercard and the Ministry of ICT & National Guidance have signed an MoU to accelerate the adoption of digital solutions that enhance government services and drive financial inclusion.
Following the granting of a Payment System Operator (PSO) License by the Bank of Uganda last year, in accordance with the National Payment Systems Act 2020, Mastercard is now authorized to provide essential services such as settlement and clearing operations within Uganda. This license further empowers Mastercard to act as a payment system operator for domestic transactions.
“Mastercard has a long-standing commitment to Africa, and the opening of our office in Uganda reinforces our dedication to this vibrant market,” said Mark Elliott, Division President for Africa, Mastercard. “By being on the ground, we can better collaborate and drive the adoption of digital payment solutions that promote economic growth and financial inclusion. We are committed to leveraging our global expertise and innovative capabilities to advance payment technologies in this market. I would like to express my sincere gratitude to our extensive network of partners in both the public and private sectors for their support in helping us build a more connected digital world.”
“Uganda presents immense opportunities for digital innovation,” added Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands, Mastercard. “Our new office aims to serve as a hub for developing and implementing payment solutions that cater to the evolving needs of Ugandan consumers and businesses. We will continue to collaborate with our stakeholders and new players in the fintech space and beyond as we contribute to a connected and inclusive digital future for all.”
Mastercard continues to drive financial and digital advancement in Uganda through initiatives such as hosting the Community Pass Customer Summit and collaborating with the Uganda Bankers Association.
The Kampala office joins Mastercard’s growing African presence, which includes existing offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, Port Louis, and Accra.
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