eTranzact Global Limited, a leading provider of innovative payment technology solutions, has announced its latest achievement in expanding its multinational operations, acquiring an operational license from the Central Bank of Uganda (BoU).
The BoU under the National Payment Systems Act, 2020, issued two licenses in the categories of Payment Systems Operator – (Small Funds Transfer, Clearing Systems or Switches) and Payment Service Provider Class A (Small Electronic Money Issuer) to the company under the brand name eTranzact Platform Limited, Uganda.
This strategic move marks a significant milestone for eTranzact Global Limited as it solidifies its presence in the East African market and demonstrates its commitment to driving financial inclusion and digital transformation in the region.
With the acquisition of these licenses, eTranzact Global Limited can now offer its robust and secure suite of payment solutions and services, such as digital payment platforms, mobile banking solutions, and electronic fund transfers, among others, to businesses and consumers in 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, he multiple award-winning Technology organization has been on an expansion agenda to extend its dominance in the digital financial infrastructure spectrum across the globe.
Presently, it is headquartered in the United Kingdom (UK), publicly listed in Nigeria, and has a presence across multiple African countries including Ghana and South Africa. In recent years, it has increased its footprint across Africa with incorporations across Cameroon, DRC Congo 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.
