Flutterwave earns a Payment Systems Operator license from the Bank of Uganda, expanding its African footprint and enhancing digital payment solutions in Uganda. (Image source: Flutterwave)

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.

Bayobab Kenya completes multi-million-shilling fibre network from Mombasa to Malaba, boosting connectivity across Kenya and East Africa. (Image source: Bayobab)

Bayobab Kenya, a division of Bayobab Group and the digital infrastructure arm of MTN Group, has announced the completion of a multi-million-shilling long-distance fibre network connecting Mombasa to Malaba and Busia

Connecting East Africa

This extensive fibre network extends to the Kenya-Uganda border, linking into Uganda and providing onward connectivity to Rwanda, South Sudan, and the Democratic Republic of Congo (DRC). This development is set to revolutionise connectivity and enhance reliability in this crucial region. Following the route of Kenya Railway’s metre gauge railway line, the fibre spans over 1,000 kilometres on the Kenyan side, offering towns along the route access to the internet. Internet Service Providers aiming to expand or enhance connectivity in these areas can utilize Bayobab Kenya’s open-access long-distance fibre infrastructure as a high-capacity backbone.

In 2022, Bayobab Kenya launched the first phase of its National Long-Distance fibre running from Mombasa to Malaba along the Kenya Pipeline route. The new fibre route complements this existing infrastructure, providing crucial diversity and redundancy for internet services. The newly-launched route offers a unique alternative for carriers seeking network resilience, high-capacity backbones, or dark fibre along the route.

Bayobab Kenya’s forward-thinking projects align with Bayobab Africa’s 2023 accolade as the Best African Carrier, demonstrating the company’s commitment to delivering superior connectivity solutions. This initiative marks a transformative advancement in telecommunications infrastructure, bridging the digital divide across Kenya and Africa.

Sylvia Anampiu, managing director of Bayobab Kenya, expressed pride in this milestone project. “Our Mombasa-to-Malaba Fibre Project in Kenya is a testament to our vision for a connected and empowered country and continent. By connecting Mombasa to Malaba, we aim to create a seamless pathway to Uganda, Rwanda, South Sudan, and DRC, fostering economic development and growth across these countries."

“Our strategic investment in Kenya’s segment of the East-to-West Fibre Project underscores our dedication to pushing the boundaries of telecommunications infrastructure through our Ambition 2025 of building 135,000KM of proprietary fibre across Africa. This project is about connecting communities and businesses, creating opportunities, and delivering a modern connected life to more people across the continent. We are confident that this initiative will be a game-changer for connectivity in Kenya and beyond,” she added.

This new route represents a significant milestone in enhancing reliability and ensuring low-latency connectivity between the East and West coasts of Africa. It is a crucial step towards improving the digital economy, trade, and economic growth within the region. Additionally, it links landlocked countries to subsea cables at the port of Mombasa via the shortest route, offering a unique pathway to safeguard and strengthen services for Bayobab Kenya’s current and future customers.