Mastercard expands presence in Uganda

Mastercard has inaugurated its first office in Uganda, marking a major step in its expansion strategy across East Africa. This move highlights the company’s commitment to boosting financial inclusion and driving digital transformation in the region

Uganda’s economy is projected to grow at 6.2% by 2025, positioning the country for ongoing development. Mastercard’s new office in Kampala will facilitate closer collaboration with local stakeholders, enabling the delivery of tailored solutions that cater to the specific needs of Ugandan consumers and businesses.

This initiative aligns with Uganda's “Digital Uganda Vision,” a government-led programme aimed at harnessing digital technologies for national development.

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In support of this, Mastercard has signed a Memorandum of Understanding (MoU) with the Ministry of ICT & National Guidance to accelerate the adoption of digital solutions, enhance government services, and promote financial inclusion.

In compliance with the National Payment Systems Act 2020, Mastercard was granted a Payment System Operator (PSO) License by the Bank of Uganda in 2024. This license enables Mastercard to provide essential services such as settlement and clearing operations within Uganda, positioning the company as a payment system operator for domestic transactions.

Mark Elliott, division president for Africa at Mastercard, commented, “Mastercard has a long-standing commitment to Africa, and the opening of our office in Uganda reinforces our dedication to this vibrant market. By being on the ground, we can better collaborate and drive the adoption of digital payment solutions that promote economic growth and financial inclusion. We are committed to leveraging our global expertise and innovative capabilities to advance payment technologies in this market. I would like to express my sincere gratitude to our extensive network of partners in both the public and private sectors for their support in helping us build a more connected digital world.”

Shehryar Ali, senior vice-president and country manager for East Africa and Indian Ocean Islands at Mastercard, added, “Uganda presents immense opportunities for digital innovation. Our new office aims to serve as a hub for developing and implementing payment solutions that cater to the evolving needs of Ugandan consumers and businesses. We will continue to collaborate with our stakeholders and new players in the fintech space and beyond as we contribute to a connected and inclusive digital future for all.”

Mastercard’s efforts to drive financial and digital progress in Uganda also include initiatives such as the Community Pass Customer Summit and collaborations with the Uganda Bankers Association.

The opening of the Kampala office is part of Mastercard’s broader strategy to expand its presence across Africa, joining existing offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, Port Louis, and Accra.

Also read: Ghana welcomes Mastercard’s first office