eTranzact Platform Limited: Spearheading Financial Innovation in Uganda

eTranzact Platform Limited: Spearheading Financial Innovation in Uganda

By Staff Writer, 13 May 2024

eTranzact Global Limited, a leading provider of payment technology solutions based in Nigeria, has announced its expansion into the Ugandan market, marking a significant milestone in its business growth strategy.

The company's entry into Uganda follows the acquisition of operational licenses from the Central Bank of Uganda, signaling its commitment to expanding its footprint across the African continent.

Under the provisions of the National Payment Systems Operator Act of 2020, eTranzact Global Limited was granted two licenses by the Bank of Uganda in April 2024.

The first license permits the company to operate in Uganda as a Payment Systems Operator, specializing in Small Funds Transfer, Clearing Systems, and Switch operations.

The second license designates eTranzact as a Payment Service Provider Class A, allowing it to function as a Small Electronic Money Issuer.

With these licenses in hand, eTranzact Global Limited will operate in Uganda under the name eTranzact Platform Limited, Uganda.

The company plans to introduce a range of payment solutions tailored to the needs of Ugandan businesses and consumers.

These solutions will include advanced digital payment platforms, comprehensive mobile banking services, and efficient electronic fund transfer options, aimed at enhancing the accessibility and security of financial transactions in Uganda.

eTranzact Global Limited is not only a prominent player in the Nigerian market but also a publicly traded entity on the stock exchange.

Its presence extends beyond Nigeria, with operations in several other African countries, including Ghana, South Africa, Cameroon, the Democratic Republic of the Congo, and Liberia.

This expansion underscores eTranzact's position as a significant contributor to the financial technology sector across the African continent, showcasing its commitment to driving innovation and financial inclusion.

Source: Tapiwa Matthew Mutisi / Innovation Village

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