Flutterwave, a leading African payment technology company, has announced its latest milestone: securing a Payment Systems Operator (PSO) license from the Bank of Uganda. This new license enables Flutterwave to expand its payment services across Uganda, further deepening its commitment to supporting African businesses on a global scale.
Enabling International Transfers and Local Payments
With this license, Flutterwave can now facilitate both local payments and international transfers into Uganda, including remittances from the diaspora. This expansion is a crucial step in providing Ugandan businesses with the tools and solutions they need to seamlessly serve customers worldwide.
Uganda’s Growing Digital Economy
Uganda, with its population of over 47 million, has experienced rapid growth in its digital economy, driven by increasing smartphone adoption and improved internet access. According to DataReportal, internet penetration in Uganda has grown by 10.3 percent in the last year, with over 27 percent of the population now online. The surge in mobile technology and affordable internet plans has played a significant role in this expansion.
A Vision for a Financially Connected Africa
Olugbenga Agboola, Founder of Flutterwave, emphasized the importance of this new development, stating, “Securing this license in Uganda is a significant step towards realizing our vision of a financially connected Africa.” The firm believes that African businesses should have the resources to operate effortlessly across borders, and this license is a key component of that vision.
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Leveraging Flutterwave’s Payment Solutions
With the PSO license, businesses in Uganda can now access Flutterwave’s secure payment solutions, including invoicing, API integration, and other operational tools. The company’s framework is designed to offer a seamless and efficient payment experience, helping businesses thrive in the digital economy.
Flutterwave’s expansion into Uganda marks another significant achievement in its mission to connect Africa through innovative financial solutions.