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Mastercard Debuts Uganda Office to Fuel Digital Transformation and Financial Inclusion in East Africa. New Kampala Hub to Drive Collaboration with Government, SMEs, and Banks Under ‘Digital Uganda Vision’
Kampala, Uganda – Global payments giant Mastercard has inaugurated its first office in Uganda, solidifying its commitment to advancing financial inclusion and digital transformation across East Africa. The Kampala office, announced on [insert date], positions Mastercard to deepen partnerships with local banks, fintechs, and government agencies, aligning with Uganda’s Digital Uganda Vision 2040 to build a tech-driven economy.
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Strategic Focus: Local Solutions for Uganda’s Market
The new office will serve as a regional hub for developing tailored payment solutions, including:
- Digital Wallets for unbanked populations.
- Contactless Payment Systems for SMEs and retailers.
- Cross-Border Remittance Tools to reduce transaction costs.
Mastercard’s Senior Vice President for East Africa, Shehryar Ali, emphasized Uganda’s untapped potential:
“Uganda’s youthful population and rapid urbanization make it a hotspot for digital innovation. By embedding ourselves in Kampala, we can co-create solutions that address local challenges, such as agricultural supply chain digitization and microloan accessibility.”
Government Collaboration: MoU with ICT Ministry
A landmark Memorandum of Understanding (MoU) with Uganda’s Ministry of ICT & National Guidance will accelerate digital public services, including:
- E-Government Platforms: Streamlining tax payments and social welfare distribution.
- Financial Literacy Programs: Targeting rural communities and women-led businesses.
- Secure Digital ID Integration: Enhancing transaction security for mobile money users.
Economic Impact and License Milestone
The launch follows Mastercard’s 2023 acquisition of a Payment System Operator (PSO) License from the Bank of Uganda, enabling it to:
- Process domestic transactions directly.
- Offer clearing and settlement services.
- Partner with local banks like Stanbic Uganda and Centenary Bank to scale card adoption.
With Uganda’s economy projected to grow by 6.2% in 2025 (World Bank), Mastercard aims to capitalize on rising smartphone penetration (currently 26%) and mobile money usage (active accounts: 38 million).
Africa Expansion Strategy
Uganda becomes Mastercard’s 8th African office, joining hubs in Nairobi, Lagos, Johannesburg, and Cairo. This expansion aligns with its goal to connect 1 billion people to the digital economy by 2025.
Mark Elliott, Mastercard’s Division President for Africa, stated:
“Africa’s digital payment sector is growing at 20% annually. Our physical presence in Uganda ensures we can support scalable solutions, from farm-to-market digital platforms to AI-driven fraud prevention.”
Why This Matters
- Financial Inclusion: 59% of Ugandans lack access to formal banking (Finscope 2023).
- SME Growth: Digitizing payments could boost SME revenues by 30% (UNCDF).
