Flutterwave expands reach with payment systems operator license in Uganda

Flutterwave, a prominent player in Africa’s payments technology sector, has been awarded a Payment Systems Operator (PSO) license by the Bank of Uganda.

This development marks a significant milestone in Flutterwave’s mission to expand its presence across the continent, adding Uganda to its growing roster of operational countries.

Uganda, with its dynamic and youthful population—over 78 per cent of whom are under the age of 35—is experiencing a rapid transformation in its digital payment landscape. This demographic trend offers a unique opportunity to drive economic growth through enhanced financial inclusion and digital innovation.

Founded in 2016, Flutterwave has established itself as a key player in Africa’s digital economy.

The company is dedicated to simplifying payments to unlock new possibilities across the continent. Flutterwave’s advanced technology and deep market insights allow it to provide a comprehensive range of payment solutions tailored to the unique needs of various countries.

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In Uganda, this includes mobile money integration—vital for a population that predominantly uses mobile devices—as well as efficient cross-border payment capabilities.

The newly acquired PSO license will enable Flutterwave to offer several critical services in Uganda. These include payout solutions for disbursing funds such as salaries and commissions, invoicing tools for streamlined payment collection, and mobile money integration to facilitate accessible and convenient payment options.

Additionally, the license will enhance Flutterwave’s ability to manage fund transfers and payment collections across various customer segments and locations in Uganda.

Flutterwave’s Founder and CEO, Olugbenga ‘GB’ Agboola, emphasized the significance of this milestone: “Securing this license in Uganda is a pivotal step towards realizing our vision of a financially connected Africa. We are committed to using our technology to bridge the gap between Ugandan businesses, individuals, and the global economy, driving inclusive growth and harnessing the full potential of digital payments.”

Oluwabankole Falade, Chief Regulatory Officer at Flutterwave, added: “The acquisition of this license not only reinforces our position as a leading payment technology provider in Africa but also underscores our dedication to regulatory compliance. We are focused on maintaining a strong partnership with the Bank of Uganda to ensure that our services are secure, reliable, and beneficial to the Ugandan community.”

Flutterwave’s expansion into Uganda follows its recent achievements in acquiring payment licenses in Ghana and Mozambique. These strategic moves further enhance Flutterwave’s ability to deliver seamless and secure payment solutions across Africa, contributing to the continent’s digital financial ecosystem.