Flutterwave has secured a Payment Systems Operator (PSO) licence from the Bank of Uganda.
enabling businesses in the country to access its payment solutions.
With this licence, Flutterwave is enabled to offer a variety of services tailored to the Ugandan market.
With Flutterwave’s operations, businesses in Uganda can now make single and bulk payouts to suppliers, employees, and partners.
Ugandans in the diaspora can also send money to their families back home.
Expressing excitement on the new licence, Olugbenga ‘GB’ Agboola, Flutterwave’s Founder and CEO, 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.”
Flutterwave highlighted that receiving the PSO licence means the payment company agrees to comply with all applicable laws and regulations in Uganda.
Emphasizing this, Oluwabankole Falade, Flutterwave’s Chief Regulatory Officer, said;
“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.”
Acknowledging Uganda’s growing digital economy, the payment technology company offers services highlighting Internet penetration, smartphone and mobile money adoption, and remittance inflows.
“We are excited about the opportunity to offer our payment solutions to Ugandan businesses and to help global enterprises expand into the country,” Flutterwave said.
The Uganda license adds to Flutterwave’s growing list of operations across Africa.
Other African operating licence include;
- payment aggregator licence in Mozambique. (approval-in-principle by the Bank of Mozambique) in May
- Payment Service Provider licence (Enhanced Category), in Ghana enabling the company to operate independently without third-party services.
- The company also has licenced operations in Nigeria, Kenya and SouthAfrica.
Meanwhile, Flutterwave only recently, announced that its online merchants in Nigeria can now accept American Express payments, and plans to expand this service to Tanzania, Rwanda, Ghana, and Uganda.
Since its inception in 2016, Flutterwave has become a key player in Africa’s digital economy.
Focusing on simplifying payments the company meets the diverse needs of various markets across the continent.
Flutterwave boasts that it has helped over 1.5 million businesses process more than 630 million payments worth over $32 billion.
