🇺🇬Uganda
Payment trends and fintech news from Uganda
NALA Secures $50 Million Credit Facility to Expand Cross-Border Payments
African payments company NALA has secured a $50 million credit facility to expand its cross-border remittance and B2B payment services. The debt financing reflects a broader trend in African fintech towards building credit infrastructure and deepening financial services beyond core payments.
MTN Unbundles Mobile Money Operations in Nigeria and Uganda
MTN Group is legally separating its mobile money businesses in Nigeria and Uganda to attract external investment, aiming to fuel expansion and develop its MoMo platform into a 'super app' in partnership with Ant Group's Alipay. The move is part of a wider strategy to unlock value from its high-growth fintech division, which processed over $250 billion in transactions last year.
Esca Finance Partners with MANSA for Same-Day African Payment Settlements
Esca Finance has partnered with MANSA to enable same-day payment settlements across key African corridors, utilizing stablecoin-backed infrastructure. This collaboration aims to enhance liquidity and accelerate cross-border transactions for businesses, reducing the need to pre-fund accounts in multiple markets.
Mastercard Partners with Yellow Card to Expand Stablecoin Payments in Africa
Mastercard has partnered with crypto exchange Yellow Card to expand stablecoin-based payment services across Africa, aiming to simplify cross-border transactions. The move aligns with growing interest from other payments firms and central banks in leveraging digital currencies for trade and remittances.
BFREE secures growth capital to expand distressed credit portfolio across Africa
Nigerian fintech BFREE has closed a growth funding round to fuel the expansion of its distressed credit buying business across Africa. The company plans to strengthen its position in Nigeria, Kenya, and Uganda while evaluating new markets.
MTN MoMo and Stabex Launch Rewards Program for Boda Riders in Uganda
MTN MoMo and Stabex International have launched a rewards program in Uganda that incentivizes motorcycle taxi riders to pay for fuel digitally. The partnership aims to increase digital payments adoption by embedding MTN's mobile money service into a critical daily expense for a large informal sector.
Uganda Government Rejects Proposal to Reduce Mobile Money Withdrawal Tax
The Ugandan government has rejected calls to cut the 0.5% excise duty on mobile money withdrawals, opting to retain the levy for revenue purposes. The decision follows appeals from telecom operators and agents who argue the tax is reducing formal transaction volumes.
MoneyGram Partners with NALA for Stablecoin-Powered Payouts
MoneyGram has partnered with African fintech NALA to enable cross-border remittances to Africa and Asia using the USDC stablecoin. The service, launched in several African nations, aims to leverage blockchain technology to improve transfer speed and reduce costs for users.
IFAD and Bank of Uganda Launch Remittance Dashboard to Track Flows
IFAD and the Bank of Uganda have launched a remittance dashboard to provide real-time data on diaspora money flows. The tool aims to enhance policy-making and financial product development for a critical segment of Uganda's economy.
MTN Uganda Waives Transaction Fees for Small Mobile Money Payments
MTN Uganda has eliminated transaction fees on its mobile money service for all payments and transfers below UGX 5,000. The company says the move aims to boost digital financial inclusion by removing cost barriers for small, everyday transactions.
SurgePay Secures Stellar Grant to Expand African Cross-Border Payments
Fintech startup SurgePay has been awarded a six-figure grant from the Stellar Community Fund to develop its cross-border payments platform for Africa. The news comes as Uganda's central bank and IFAD launch a data dashboard to track remittance flows and inform policy.
MTN MoMo Showcases Digital Payment Growth at MEA Summit in Uganda
MTN Mobile Money showcased its digital payment services at the MEA Digital Summit in Uganda, highlighting its role in the country's financial inclusion efforts. The presentation emphasized alignment with Uganda's national target of achieving 95% digital payments adoption.
Payaza Gains Payment Systems Operator License in Uganda
Nigerian fintech Payaza has received a Payment Systems Operator license from the Bank of Uganda, allowing it to establish a legal entity and process domestic and cross-border transactions. The move expands the company's East African footprint amid a broader industry push to facilitate seamless payments across the continent.
Payaza Gains Payment License in Uganda, Expands East African Operations
Nigerian fintech Payaza has obtained a Payment Service Provider license from the Bank of Uganda, marking its entry into the Ugandan market as part of its East African expansion strategy. The move reflects a broader trend of African fintech firms seeking regulated growth across the continent to serve business payment and cross-border trade needs.
Onafriq Partners With Conduit to Enable Stablecoin Settlement for Cross-Border Payments
Onafriq has partnered with Conduit to use stablecoins for settling cross-border payments across Africa, aiming to reduce costs and settlement times. The deal reflects a broader industry trend of leveraging digital dollar-pegged assets to improve intra-African and global payment corridors.
Payaza Secures Payment Services Operator License from Bank of Uganda
Payaza has obtained a Payment Services Operator license from the Bank of Uganda, permitting it to offer regulated digital payment services in the country. The license is a key step in the fintech's plan to extend its cross-border payments network into East Africa.
Paratus Activates Fibre Route Linking Goma to Mombasa
Paratus Group has activated new terrestrial fibre optic routes connecting Goma, DRC, to Mombasa, Kenya, enhancing digital backbone infrastructure in East Africa. The development aims to support regional trade and connectivity, occurring alongside significant regulatory disputes in South Africa's telecom and banking sectors.
MTN, Airtel Count $7 Million Loss After Uganda Social Media Blackout
MTN and Airtel lost an estimated $7 million in Uganda due to a social media shutdown that lasted until January 26, 2026. The disruption highlights the financial risks associated with government-imposed internet restrictions and the increasing adoption of alternative solutions such as cross-border mobile money services.
Uganda's Mobile Money Curbs Drive Users to Kenyan Platforms
Restrictions on mobile money transactions in Uganda are pushing users towards Kenyan mobile wallets, impacting the revenue streams of companies like MTN and Airtel. This shift highlights the interconnectedness of the East African financial landscape and the potential consequences of restrictive financial policies.
MTN and Airtel Resume Mobile Money Operations in Uganda
MTN and Airtel have resumed mobile money services in Uganda after election-related restrictions, highlighting the service's importance to the country's economy. Regulatory uncertainty remains a challenge for mobile payments across Africa, but innovation and investment in the sector continue to grow.