Mastercard and the Uganda Ministry of ICT & National Guidance have signed a Memorandum of Understanding (MoU) to accelerate digital transformation across the country.
This collaboration marks a significant milestone in the implementation of the ‘Digital Uganda Vision’, aimed at driving socio-economic development, enhancing services, and driving financial inclusion.
“Digital innovation is not just about technology; it’s about the opportunity to improve lives. Our collaboration with the Ministry of ICT & National Guidance is a powerful example of how cross-sector cooperation can significantly advance digital inclusion and economic growth. Together, we are committed to unlocking the potential of a digital Uganda, making a positive impact on millions of lives by providing access to essential services and financial inclusion,” said Victor Ndlovu, Director and Business Development Lead for East Africa at Mastercard.
The agreement is aligned with Uganda’s digital transformation goals laid out in their Digital Uganda Vision. This vision will empower its citizens, striving to achieve the goals of universal inclusion, sustainable development, economic progress, and poverty eradication through digital innovation combining initiatives across multiple sectors.
The vision also aligns with Mastercard’s goal of enhancing financial inclusion by bringing 1 billion unbanked and underserved individuals into the digital economy by 2025, including empowering 50 million micro- and small merchants and supporting 25 million women-owned or led businesses.
One of the key focal areas of this partnership is to modernize Uganda’s digital payments ecosystem, making it more inclusive and accessible to micro and small merchants. These merchants will now have the tools they need to connect with the global digital economy and accept payments electronically, broadening their market reach and enhancing their contribution to Uganda’s economic growth.
The initiative will also explore digital payment solutions as a gateway to support e-commerce platforms and e-government initiatives, therefore facilitating both domestic and cross-border transactions. This move is expected to significantly ease the way business is conducted and services are rendered, providing a boost to the country’s economic activities.
As part of the deal, Mastercard will provide technical assistance and expertise to support the Ugandan Government’s digitization and financial inclusion efforts. This includes the digitization of traditional services such as Posta Uganda to capture new revenue flows and deliver integrated and convenient experiences for customers.
Additionally, Mastercard and the Uganda Ministry of ICT & National Guidance will focus on enabling skill development among Ugandan start-ups, empowering them with the knowledge and tools needed for success in the digital age.
“A digital future is a prosperous future. This collaboration with Mastercard is a significant leap towards achieving the Digital Uganda Vision. Together, we are laying the foundation for a future where every Ugandan, regardless of where they are located, can access essential services with ease and security, driving not just financial inclusion but also socio-economic development across the country,” said Hon. Dr. Chris Baryomunsi, Minister of ICT and National Guidance in Uganda.
The realization of a Digital Uganda will electronically deliver a variety of government and private services in various fields like education, health, agriculture, social security, banking, justice, communication and much more.
