By Okello Joshua Oscar
eTranzact Global Limited, a Nigeria-based payment technology solutions provider, has set its sights on the Ugandan market after securing an operational license from the Bank of Uganda.
In April 2024, eTranzact was granted two licenses under the National Payment Systems Operator Act, 2020, enabling the company to operate in Uganda as a Payment Systems Operator (Small Funds Transfer, Clearing Systems, or Switches) and a Payment Service Provider Class A (Small Electronic Money Issuer).
With this regulatory green light, eTranzact is poised to introduce a suite of payment solutions to Ugandan businesses and consumers, encompassing digital payment platforms, mobile banking solutions, and electronic fund transfers.
Already boasting a strong presence across various African nations such as Nigeria, Ghana, South Africa, Cameroon, the Democratic Republic of the Congo, and Liberia, eTranzact’s expansion into Uganda signifies a strategic move to tap into the burgeoning fintech landscape in the region.
Valentine Obi, the Group CEO and Founder of eTranzact expressed confidence in the company’s ability to provide cutting-edge payment solutions tailored to the needs of businesses and consumers in Uganda. He emphasized the importance of convenience and security in the digital age and highlighted eTranzact’s commitment to delivering industry-leading technologies.
Also, John Apea, Board Member of eTranzact Platform Limited, Uganda, and CEO of eTranzact Ghana Limited, expressed eTranzact Platform Limited’s commitment to supporting the Ugandan government’s ‘Digital Uganda Vision,’ which “serves as an excellent pathway to promote sustainable development and poverty eradication through digital innovation.”
The Digital Uganda Vision is a National Policy and Strategic Framework that reviews, integrates, consolidates, and improves all the existing ICT strategies, policies and plans into one overarching digital Vision for Uganda by providing a unified direction for ICT development and an Integrated ICT project implementation approach.
