Flutterwave gains PSO license in Uganda

Flutterwave, a leading payments technology company, has been awarded a Payment Systems Operator (PSO) license by the Bank of Uganda

This significant achievement marks a major step in Flutterwave's expansion across Africa, now including Uganda in its growing network of operations.

Uganda’s digital payment sector is rapidly evolving, fueled by a youthful population where over 78% are under 35. This dynamic demographic presents a unique opportunity to drive 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, aiming to simplify payments and unlock new possibilities. By leveraging its advanced technology and deep market insights, Flutterwave provides a range of payment solutions designed for Uganda’s specific needs. This includes mobile money integration, which is essential for Uganda’s mobile-first users, and efficient cross-border payment capabilities, positioning Flutterwave to connect Uganda with the global economy.

Expanding digital payments

With the new PSO license, Flutterwave will offer various services including payout solutions for salaries and commissions, invoicing for streamlined payment collection, and mobile money integration to enhance accessibility for Ugandans. The license will facilitate smoother fund transfers and payment collections across different customer segments and locations, allowing businesses to benefit from Flutterwave’s efficient, reliable, and customised payment solutions through Flutterwave for Business and SendApp.

Olugbenga ‘GB’ Agboola, founder and CEO of Flutterwave, said, “Securing this license in Uganda is a significant step towards realising our vision of a financially connected Africa. At Flutterwave, we believe that the future of Africa lies in its ability to seamlessly connect its people, businesses, and economies through technology. We are excited to contribute to this journey, 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.