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Flutterwave has successfully obtained a Payment Systems Operator (PSO) license from the Bank of Uganda, marking a significant milestone in its ongoing expansion across Africa. This new license adds Uganda to Flutterwave’s growing list of operational territories on the continent, reinforcing its position as a leading fintech player in Africa.
Uganda’s digital payment landscape is rapidly evolving, driven by its youthful and dynamic population—over 78% of whom are under the age of 35. This demographic shift presents a remarkable opportunity to accelerate economic growth through enhanced financial inclusion and digital innovation.
Since its founding in 2016, Flutterwave has become a key player in Africa’s digital economy, with a mission to simplify payments and unlock new possibilities. By leveraging advanced technology and a deep understanding of African markets, Flutterwave offers a comprehensive suite of payment solutions designed to meet the unique needs of each country it serves.
In Uganda, where mobile-first solutions are essential, Flutterwave is well-positioned to drive the next phase of financial connectivity. The PSO license allows Flutterwave to offer a range of services, including payout solutions for disbursing salaries and commissions, invoicing tools for easy payment tracking and collection, and mobile money integration to provide convenient payment options for Ugandans.
This license will also streamline fund transfers and payment collections across various customer segments and locations in Uganda, enabling businesses to benefit from efficient, reliable, and tailored payment solutions through Flutterwave for Business and SendApp.
Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave, expressed his enthusiasm about the license approval, stating, “Securing this license in Uganda is a significant step towards realizing our vision of a financially connected Africa. At Flutterwave, we believe that Africa’s future lies in its ability to seamlessly connect its people, businesses, and economies through technology. We are excited to contribute to this journey by 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 its recent acquisitions of payment licenses in Ghana and Mozambique, further expanding its footprint and enhancing its ability to offer seamless and secure payments across the continent. This move underscores Flutterwave’s dedication to connecting African markets and driving economic growth through innovative financial solutions.
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