Mastercard has officially opened its first office in Uganda, marking a significant step in its expansion across East Africa. This initiative highlights Mastercard’s focus on promoting financial inclusion and accelerating digital transformation in the region.
With Uganda’s economy expected to grow by 6.2% by 2025, the country is on track for sustained development. The new office in Kampala is designed to foster closer collaboration with local stakeholders, enabling Mastercard to create tailored solutions that meet the specific needs of Ugandan consumers and businesses.
This move aligns with Uganda’s ‘Digital Uganda Vision,’ a key initiative aimed at leveraging digital technologies for national growth. To support this vision, Mastercard has signed a Memorandum of Understanding (MoU) with the Ministry of ICT & National Guidance to promote the adoption of digital solutions that enhance government services and drive financial inclusion.
In compliance with the National Payment Systems Act 2020, Mastercard received a Payment System Operator (PSO) License from the Bank of Uganda last year. This license allows Mastercard to offer critical services such as settlement and clearing operations within Uganda, positioning the company as a key player in local transactions.
“Mastercard has a long-standing commitment to Africa, and the opening of our office in Uganda reinforces our dedication to this vibrant market,” said Mark Elliott, Division President for Africa at Mastercard. “Being on the ground will help us better collaborate and promote digital payment solutions that drive economic growth and financial inclusion. I express my sincere gratitude to our extensive network of partners for their ongoing support in building a more connected digital world.”
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands, added, “Uganda presents immense opportunities for digital innovation. Our office will serve as a hub for developing and implementing payment solutions tailored to the evolving needs of Ugandan consumers and businesses. We will actively collaborate with stakeholders and new fintech players to foster a connected and inclusive digital future for all.”
Mastercard is committed to advancing financial and digital progress in Uganda. Noteworthy initiatives include hosting the Community Pass Customer Summit to promote digital advancement and partnering with the Uganda Bankers Association to further these objectives.
The Kampala office is part of Mastercard’s broader strategy to expand its presence across Africa, which includes established offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, Port Louis, and Accra.
