Mastercard has launched its first office in Uganda, a move that signals its commitment to enhancing financial inclusion and accelerating digital transformation in East Africa.
Positioned in Kampala, the office aims to foster collaboration with local stakeholders and develop tailored solutions for Ugandan consumers and businesses.
As Uganda’s economy is projected to grow by 6.2% by 2025, Mastercard seeks to align its initiatives with the government’s ‘Digital Uganda Vision,’ which aims to leverage digital technologies for national development.
A Memorandum of Understanding has been signed with the Ministry of ICT & National Guidance to facilitate the adoption of digital solutions that improve government services and drive financial inclusion.
Last year, Mastercard received a Payment System Operator (PSO) License from the Bank of Uganda, enabling it to provide critical services such as settlement and clearing operations for domestic transactions.
Mark Elliott, Division President for Africa at Mastercard, stated, “Mastercard has a long-standing commitment to Africa, and the opening of our office in Uganda reinforces our dedication to this vibrant market. With the new office 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.
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, added that 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.”
The Kampala office is part of a broader strategy to expand Mastercard’s presence across Africa, complementing its offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, Port Louis, and Accra.
