With this licence, businesses in Uganda can now make single and bulk payouts to suppliers, employees, and partners. Additionally, Ugandans in the diaspora can send money to their families back home.
Flutterwave acknowledged Uganda’s growing digital economy, highlighting Internet penetration, smartphone and mobile money adoption, and remittance inflows.
Its payment offerings in Uganda include sending and receiving payments, invoicing, API solutions, and payment links. The company boasts that it has helped over 1.5 million businesses process more than 630 million payments worth over $32 billion.
Oluwabankole Falade, Flutterwave’s Chief Regulatory Officer, stated that the company is dedicated to meeting all regulatory requirements and fostering a strong partnership with the Bank of Uganda to ensure its services are safe, secure, and beneficial for the Ugandan people.
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