Nigerian payment solutions provider expands operations to Uganda

eTranzact Global Limited, a payment technology solutions provider based in Nigeria, has announced its expansion to Uganda after receiving an operational license from Uganda’s apex bank.

The Bank of Uganda granted the company two licenses under the National Payment Systems Operator Act, 2020, to operate in Uganda as a Payment Systems Operator (Small Funds Transfer, Clearing Systems, or Switches) and Payment Service Provider Class A (Small Electronic Money Issuer) in April 2024.

These licenses will allow eTranzact to operate as eTranzact Platform Limited, Uganda, and provide several payment solutions and services to Ugandan businesses and consumers, including digital payment platforms, mobile banking solutions, and electronic fund transfers.

The company is publicly traded in Nigeria and operates in several African countries, including Ghana, South Africa, Cameroon, the Democratic Republic of the Congo, and Liberia.

According to Valentine Obi, Group CEO and Founder of eTranzact, this development demonstrates the company’s commitment to expanding its global footprint and deepening financial inclusion on the continent.

“We are confident that our industry-leading payment solutions that are based on cutting-edge technology will empower businesses with the convenience and security they need in today’s digital era,” he added

Also, John Apea, Board Member of eTranzact Platform Limited, Uganda, and CEO of eTranzact Ghana Limited, expressed eTranzact Platform Limited’s commitment to supporting the Ugandan government’s ‘Digital Uganda Vision,’ which “serves as an excellent pathway to promote sustainable development and poverty eradication through digital innovation.”

The Digital Uganda Vision (DUV) is a national plan that integrates and improves all current ICT strategies, policies, and plans. It aims to establish a unified strategy for ICT development in Uganda, and a coordinated approach to project implementation. It also aims to align ICT investments in various sectors to improve the country’s global ICT indices to attract investors.

On the Global Innovation Index, Uganda is ranked 114 globally and among the top 10 in the category of least developed countries.

(Techpoint Africa)

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