Flutterwave, a leading payments technology company, has received a Payment System Operator (PSO) license from the Bank of Uganda. This marks a major milestone in Flutterwave’s African expansion, adding Uganda to the list of countries where the company operates.
Uganda’s digital payments landscape is being transformed by a young and dynamic population with over 78% of citizens under the age of 35. This population represents an unprecedented opportunity to drive economic growth through improved financial inclusion and digital innovation.
Founded in 2016, Flutterwave is a cornerstone of Africa’s digital economy with a mission to simplify payments for endless possibilities. Flutterwave leverages its advanced technology and deep understanding of the African market to deliver comprehensive payment solutions tailored to the country’s unique needs.
From mobile payment integration, which is crucial for Uganda’s largely mobile-first population, to seamless cross-border payment options, Flutterwave is uniquely positioned to bridge the gap between Uganda and the global economy.
With the PSO license, Flutterwave will provide payment services for the disbursement of funds such as salary and commissions, invoicing solutions for easy tracking and payment collection, and mobile payment integration to provide Ugandans with convenient and accessible payment options.
The license also streamlines remittance and payment collection across various customer segments and locations in Uganda, allowing businesses to benefit from efficient, reliable, and customized payment solutions via Flutterwave for Business or SendApp.
Commenting on the license approval, Flutterwave Founder and CEO, Olugbenga “GB” Agboola, said: “Securing this license in Uganda is a significant step towards realizing 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.”
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 the company’s recent acquisition of payment licenses in Ghana and Mozambique, further expanding its footprint and improving its ability to provide seamless and secure payments across the continent.
