eTranzact Global Limited, a leading provider of innovative payment solutions, has announced its expansion into Uganda, acquiring an operational license from the Central Bank of Uganda (BoU). This strategic move marks a significant milestone for eTranzact Global Limited as it further solidifies its presence in the East African market and demonstrates its commitment to driving financial inclusion and digital transformation in the region.
With the issuance of operational licenses from the Central Bank of Uganda, eTranzact is set to revolutionize the financial landscape in the East African region.
Etranzact with its headquarters in the United Kingdom (UK) and publicly listed in Nigeria, the company has a presence across multiple African countries, including Ghana and South Africa. In recent years, it has increased its footprint across Africa with incorporations across Cameroon, DRC Congo, and Liberia.
In April 2024, the Bank of Uganda, under the provisions of the National Payment Systems Operator Act of 2020, bestowed upon eTranzact Global Limited two distinct licences. The first licence authorizes the company to function as a payment system operator and the second licence authorizes them to function as a payment service provider class A. This enables the company to offer its robust and secure suite of payment solutions and services, including digital payment platforms, mobile banking solutions, and electronic fund transfers, to businesses and consumers in Uganda.
Mr. Valentine Obi, the Group chief executive officer and Founder of eTranzact, has expressed that the company’s latest expansion into Uganda is a clear indication of its unwavering dedication to broadening its international presence.
“We are thrilled about acquiring the operational license from the Central Bank of Uganda. This achievement signifies our commitment to expanding our footprint globally and deepening financial inclusion on the continent.”
He asserts that eTranzact’s advanced payment solutions will provide businesses in Uganda with the convenience and security necessary to thrive in the digital age.
John Apea, Board Member of eTranzact Platform Limited, Uganda, reaffirmed the company’s commitment to supporting Uganda’s ‘Digital Uganda Vision.’ Thisinitiative aims to leverage digital innovation for sustainable development and poverty eradication in the country. eTranzact promises to play a pivotal role in driving Uganda’s digital transformation agenda forward.
eTranzact is poised to reshape Uganda’s digital landscape and drive sustainable growth in the region.
