Nigeria: eTranzact Global expands continental footprint into Uganda

eTranzact Global Limited, a prominent provider of innovative payment technology solutions, has achieved a significant milestone in its multinational expansion by obtaining an operational license from the Central Bank of Uganda (BoU).

Under the National Payment Systems Act, 2020, the BoU issued two licenses to the company, categorized as Payment Systems Operator (Small Funds Transfer, Clearing Systems, or Switches) and Payment Service Provider Class A (Small Electronic Money Issuer), operating under the brand name eTranzact Platform Limited, Uganda.

This strategic step represents a major achievement for eTranzact Global Limited as it strengthens its position in the East African market and underscores its dedication to fostering financial inclusion and digital advancement in the region.

The acquisition of these licenses enables eTranzact Global Limited to provide its comprehensive and secure range of payment solutions and services, including digital payment platforms, mobile banking solutions, and electronic fund transfers, to businesses and consumers throughout Uganda.

Speaking to the press, Group Chief Executive Officer and Founder of eTranzact Global Limited, Dr. Valentine Obi, stated that this expansion not only underscores eTranzact Global Limited’s rapid growth but also reinforces its mission to empower individuals, businesses, and governments by enabling secure, seamless, and convenient financial transactions that are affordable.

“We are thrilled about acquiring the operational license from the Central Bank of Uganda. This achievement signifies our commitment to expanding our footprint globally and deepening financial inclusion on the continent. We are confident that our industry-leading payment solutions that are based on cutting-edge technology will empower businesses with the convenience and security they need in today’s digital era,” he said.

On his part, Mr. John Apea, Board member of eTranzact Platform Limited, Uganda, and CEO of eTranzact Ghana Limited stated: “Under the visionary leadership of our Founder, Dr. Valentine Obi, eTranzact Platform Limited is a proud supporter of the government’s ‘Digital Uganda Vision’ which serves as an excellent pathway to promote sustainable development and poverty eradication through digital innovation”.

eTranzact Global Limited, is a multiple award-winning technology firm, which has been actively pursuing an expansion strategy to strengthen its position in the global digital financial infrastructure sector.

Headquartered in the United Kingdom (UK) and publicly listed in Nigeria, eTranzact Global Limited has established a presence in various African nations, including Ghana and South Africa.

In recent years, the company has expanded its footprint across Africa, with new incorporations in countries such as Cameroon, the Democratic Republic of Congo (DRC), and Liberia.

The AfCFTA has created a framework for technology-led companies to scale across the continent in a way that will impact many sectors such as digital infrastructure, logistics, and energy, to name a few.

eTranzact Global Limited and its subsidiaries across Africa are well poised to build technology solutions linking to the Pan African Payment and Settlement System (PAPSS) and other initiatives to accelerate the adoption of use cases that PAPSS supports – such as intra-Africa instant payment, embedded finance and remittances services.