MasterCard has opened its first office in Kampala, Uganda, marking a significant step in its expansion across East Africa and underscoring its commitment to fostering financial inclusion and accelerating digital transformation in the region.
“MasterCard has a long-standing commitment to Africa, and the opening of our office in Uganda reinforces our dedication to this vibrant market,” said Mark Elliott, Division President for Africa at MasterCard. “By being on the ground, we can better collaborate and drive the adoption of digital payment solutions that promote economic growth and financial inclusion.”
He emphasized that they are committed to leveraging their global expertise and innovative capabilities to advance payment technologies in the Ugandan market.
MasterCard’s new office in Kampala is envisioned as a strategic hub designed to develop and implement innovative payment solutions tailored to Ugandan consumers’ and businesses’ evolving and specific needs while deepening collaboration with local stakeholders to deliver targeted services that address the region’s unique demands. By establishing this presence, the company aims to strengthen partnerships and drive impactful solutions that align with Uganda’s dynamic financial ecosystem.
Their move positions them to capitalize on Uganda’s projected 6.2% economic growth by 2025.
Notably, the company’s efforts align seamlessly with the government’s ‘Digital Uganda Vision,’ a transformative initiative to leverage digital technologies for national development.
MasterCard’s Senior Vice President and Country Manager for East and Indian Ocean Islands, Shehryar Ali noted that Uganda presents immense opportunities for digital innovation. He further affirmed continued collaboration with stakeholders and new players in the fintech space and beyond as they contribute to a connected and inclusive digital future for all.
Reinforcing this alignment, Mastercard and the Ministry of ICT and National Guidance signed a Memorandum of Understanding to accelerate the adoption of digital solutions that enhance government services and drive financial inclusion.
This partnership builds on Mastercard’s recent acquisition of a Payment System Operator (PSO) License from the Bank of Uganda last year, in compliance with the National Payment Systems Act 2020. The license empowers Mastercard to provide essential services like settlement and clearing operations within Uganda, facilitating its role as a payment system operator for domestic transactions.
Mastercard’s commitment to Uganda extends beyond the new office. The company has been actively driving financial and digital advancement through initiatives like hosting the Community Pass Customer Summit and collaborating with the Uganda Bankers Association.
The opening of the Kampala office is part of MasterCard’s broader African expansion strategy, which includes existing offices in Cairo (Egypt), Casablanca (Morocco), Johannesburg (South Africa), Lagos (Nigeria), Nairobi (Kenya), Port Louis (Mauritius), and Accra (Ghana).
This expanding presence reflects MasterCard’s growing investment in the continent’s digital future.
