Flutterwave, a leading global pay-tech company, has made a significant leap by expanding its operations into Uganda. The Bank of Uganda has granted Flutterwave a Payments System Operator (PSO) license, marking a major milestone in the firm’s mission to enhance financial inclusion across Africa. This expansion brings Flutterwave’s reach to 29 African countries, further solidifying its position as a key player in the continent’s digital payments landscape.
Olugbenga Agboola, Founder and CEO of Flutterwave, emphasized the importance of this development, stating that it aligns with the company’s vision of connecting Africa through seamless technology. Agboola highlighted the PSO license as a pivotal step in enabling African businesses to unlock their growth potential through advanced digital payment solutions.
With this new license, businesses in Uganda will gain access to a comprehensive suite of payment options offered by Flutterwave. The platform will facilitate not only customer payments but also single and bulk payments to suppliers, employees, and business partners, thus supporting various aspects of business operations.
Uganda’s digital economy has seen remarkable growth, fueled by increased internet access and smartphone usage. The country, with a population of 47 million, has experienced a 10.3% growth rate in the past year and boasts a high mobile money adoption rate of over 54%. This growth underscores the potential for Flutterwave’s payment solutions to make a substantial impact in the region.
The expansion into Uganda comes as part of Flutterwave’s broader strategy to enhance financial inclusion and drive economic growth through innovative payment technologies. The firm’s entry into this dynamic market positions it to play a crucial role in Uganda’s evolving digital payment ecosystem.
Flutterwave’s latest achievement reflects its commitment to fostering economic development and connectivity across Africa. By bridging gaps in digital payments, Flutterwave continues to advance its mission of connecting people, businesses, and economies throughout the continent.
Flutterwave #FinancialInclusion #DigitalPayments #AfricanEconomy #PayTech #Expansion #PaymentsSystemOperator #Uganda #DigitalTransformation #MobileMoney
