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Fintech eTranzact Ventures into Uganda

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eTranzact Global Limited, a Nigerian-based provider of payment technology solutions, has announced its expansion into Uganda following the acquisition of operational licenses from the Central Bank of Uganda.

The Bank of Uganda issued two licenses to the company under the National Payment Systems Operator Act, 2020, in April 2024.

These licenses allow eTranzact Global Limited to operate in Uganda as eTranzact Platform Limited, Uganda, offering various payment solutions and services to businesses and consumers, including digital payment platforms, mobile banking solutions, and electronic fund transfers.

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The Group CEO and Founder of eTranzact, Valentine Obi emphasized that this expansion reflects the company’s dedication to broadening its global presence and enhancing financial inclusion across the continent.

With eTranzact’s industry-leading payment solutions based on cutting-edge technology, Mr Obi believes that businesses in Uganda will benefit from the convenience and security required in today’s digital era.

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“We are confident that our industry-leading payment solutions that are based on cutting-edge technology will empower businesses with the convenience and security they need in today’s digital era,” he added.

Board Member of eTranzact Platform Limited, Uganda, and CEO of eTranzact Ghana Limited, John Apea affirmed the commitment of eTranzact Platform Limited to support Uganda’s ‘Digital Uganda Vision.’

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This vision aims to promote sustainable development and poverty eradication through digital innovation, aligning with eTranzact’s mission to empower communities through advanced payment technologies.

The ‘Digital Uganda Vision’ (DUV) is a national strategy that consolidates and enhances existing ICT strategies, policies, and plans. It aims to establish a unified approach to ICT development and project implementation in Uganda while aligning ICT investments across sectors to improve the country’s global ICT rankings and attract investors.

Uganda currently ranks 114th globally on the Global Innovation Index and is among the top 10 least developed countries in this category.

The influx of eTranzact’s advanced payment solutions into Uganda aligns with efforts to enhance digital infrastructure and drive economic growth through innovation and technology.

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Diana Mutheu
Diana Mutheu
Diana Mutheu is a Tech enthusiast, happy to delve deeper into the African tech space covering Social Media, AI, Startups, Telcos, Cryptocurrency, Big Data, Women in Tech and all matters Tech. Write to me @[email protected]

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