Mastercard has entered into a Memorandum of Understanding (MoU) with Uganda’s Ministry of Information Communication Technology and National Guidance.
This strategic alliance aims to drive forward Uganda’s digital transformation journey, ultimately leading to improved socio-economic development, expanded services, and heightened financial inclusion.
This landmark deal was finalized during an event held at the ministry’s headquarters in Kampala, presided over by Hon. Dr. Chris Baryomunsi, Uganda’s Minister of ICT and National Guidance, and Victor Ndlovu, Director and Business Development Lead for East Africa at Mastercard.
Details of the MoU
At the heart of this partnership lies the shared objective to revamp Uganda’s digital payments infrastructure, particularly targeting micro and small enterprises.
This vision harmonizes with Mastercard’s ambition to enhance financial inclusion by bringing 1 billion unbanked individuals into the digital economy by 2025, supporting micro- and small merchants and women-owned businesses.
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By equipping these businesses with the means to engage in the global digital economy, they stand poised to expand their markets and contribute meaningfully to Uganda’s overall economic growth.
Furthermore, the collaboration encompasses investigations into digital payment solutions that could facilitate e-commerce platforms and e-government endeavors, thus simplifying commercial interactions and rendering public services more efficient.
Remarks from Ugandan ICT Ministry and Mastercard Heads
Chris Baryomunsi highlighted the significance of this union, declaring that, “A digital future is a prosperous future.”
He added, “Our collaboration with Mastercard is a substantial step towards realizing the Digital Uganda Vision, guaranteeing that each Ugandan citizen, regardless of where they are located, can obtain fundamental services effortlessly and securely.”
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Victor Ndlovu echoed the minister’s sentiments, affirming, “Our collaboration with the Ministry of ICT & National Guidance is a powerful example of how cross-sector cooperation can significantly advance digital inclusion and economic growth.”
“Together, we are committed to unlocking the potential of a digital Uganda, making a positive impact on millions of lives by providing access to essential services and financial inclusion.”
The MoU aligns with Uganda’s Digital Uganda Vision, which envisions creating a digital community that empowers citizens while stimulating sustainable development, economic progress, and poverty alleviation via digital innovation.
