Flutterwave gets PSO license in Uganda

Founder and CEO of Flutterwave, Olugbenga Agboola, has said that the future of Africa lies in its ability to seamlessly connect its people, businesses, and economies through technology.

Agboola made this statement as the leading payments technology company received a Payment Systems Operator (PSO) license from the Bank of Uganda.

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Flutterwave’s entry into Uganda follows its recent acquisition of payment licenses in Ghana and Mozambique, further expanding its footprint and enhancing its ability to offer seamless and secure payments across the continent. The license marks a key milestone in Flutterwave’s expansion across Africa, adding Uganda to its growing list of countries where it operates.

Uganda’s digital payment landscape is transforming, driven by a youthful and vibrant population with over 78% of its citizens under the age of 35. This demographic presents an unprecedented opportunity to advance economic growth through enhanced financial inclusion and digital innovation.

With the PSO license, Flutterwave will offer payout services for disbursing funds like salaries and commissions, invoicing solutions for easy tracking and payment collection, and mobile money integration to provide convenient and accessible payment options for Ugandans.

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The license will also streamline fund transfers and payment collections across diverse customer segments and locations in Uganda, enabling businesses to benefit from efficient, reliable, and tailor-made payment solutions through either Flutterwave for Business or SendApp.

Leveraging its advanced technology and deep understanding of African markets, Flutterwave offers a comprehensive suite of payment solutions tailored to the country’s unique needs. From mobile money integration, crucial for Uganda’s predominantly mobile-first population, to seamless cross-border payment capabilities, Flutterwave is uniquely positioned to bridge the gap between Uganda and the global economy.

Commenting on the license approval, Founder and CEO of Flutterwave, Olugbenga Agboola, said securing the license in Uganda is a significant step towards realizing Flutterwave’s vision of a financially connected Africa.
“At Flutterwave, we believe that the future of Africa lies in its ability to seamlessly connect its people, businesses, and economies through technology. We are excited to contribute to this journey, empowering Ugandan businesses and individuals to harness the full potential of digital payments and drive inclusive growth.”

Chief Regulatory Officer at Flutterwave, Oluwabankole Falade, added: “The acquisition of this license further solidifies our standing as a leading payment technology service provider in Africa. We are deeply committed to adhering to all regulatory requirements and maintaining a strong relationship with the Bank of Uganda to ensure our services remain safe, secure, and beneficial to the Ugandan people.”