Bank of Uganda issues licenses to Airtel, MTN

The Bank of Uganda has issued a license to Airtel Mobile Commerce Uganda Limited and MTN Mobile Money Uganda Limited to conduct various payments through the telecommunication based channels.

The National Payment System Department in the Bank of Uganda oversees the national payment system with the objective of ensuring overall effectiveness and integrity of payment systems in the country.

In a Friday press statement tweeted by BoU, the governor Bank of Uganda, Mr Emmanuel Tumusiime Mutebile said: “Following the enactment of National Payment System (NPS) Act 2020, on 4 September 2020 and the gazetting of the NPS Implementing Regulations on 5th March 2020 Bank of Uganda has commenced licensing of Payment System Operators, Payment Service Providers and Issuer of Payment Instruments.”

 “In addition, M/s Wave Transfer limited received the Bank of Uganda’s approval to operate under the regulatory Sandbox Framework Pursuant to section 16 of the National Payment Systems Act 2020 and regulation 5 of the National Payments Systems Sandbox Regulations, 2021,” he added.

The governor further gave assurance to the general public and the market that the Bank of Uganda will support the development of a vibrant and resilient payment eco-system that promotes economic growth.