Kampala: Mastercard has announced the opening of its first office in Uganda, marking a significant milestone in its expansion across East Africa. This strategic move underscores Mastercard’s dedication to fostering financial inclusion and accelerating digital transformation in the region.
According to Ethiopian News Agency, with Uganda’s economy projected to grow at 6.2 percent by 2025, the country is poised for sustained expansion. Mastercard’s physical presence in Kampala aims to enable deeper collaboration with local stakeholders to deliver tailored solutions that address the unique needs of Ugandan consumers and businesses, contributing to this growth.
Mastercard’s efforts align with the government’s ‘Digital Uganda Vision,’ a transformative initiative to harness digital technologies for national development. As part of this commitment, Mastercard and the Ministry of ICT and National Guidance have signed an MoU to accelerate the adoption of digital solutions that enhance government services and drive financial inclusion.
Last year, in compliance with the National Payment Systems Act 2020, Mastercard was granted a Payment System Operator (PSO) License by the Bank of Uganda. This license endows Mastercard to provide essential services such as settlement and clearing operations within Uganda, further enabling the company to act as a payment system operator for domestic transactions.
The opening of the Kampala office is part of Mastercard’s broader strategy to expand its footprint across Africa, with existing offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, Port Louis, and Accra.