Mastercard Expands into Uganda with New Office to Boost Financial Inclusion

Mastercard has officially launched its first office in Uganda, marking a significant step in its expansion across East Africa. This move is part of the company’s broader strategy to accelerate digital transformation and foster financial inclusion in the region.

With Uganda’s economy projected to grow at 6.2% by 2025, Mastercard believes that having a physical presence in Kampala will enable closer collaboration with local stakeholders. The company aims to deliver customized solutions tailored to the unique needs of Ugandan consumers and businesses.

“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.”

Shehryar Bakht Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, also emphasized Uganda’s potential for digital innovation. “Our new office aims to serve as a hub for developing and implementing payment solutions that cater to the evolving needs of Ugandan consumers and businesses.”

Mastercard’s expansion aligns with the Ugandan government’s ‘Digital Uganda Vision,’ a national initiative aimed at leveraging digital technologies for economic and social development. As part of this commitment, Mastercard has signed a Memorandum of Understanding (MoU) with the Ministry of ICT & National Guidance to support the adoption of digital solutions that enhance government services and financial inclusion.

Additionally, Mastercard has been granted a Payment System Operator (PSO) License by the Bank of Uganda, allowing it to provide essential financial services such as settlement and clearing operations within the country.

The company has already played a key role in Uganda’s financial landscape, hosting the Community Pass Customer Summit and working closely with the Uganda Bankers’ Association to advance digital finance initiatives.

The opening of the Kampala office is part of Mastercard’s broader strategy to expand its footprint across Africa, joining existing offices in major cities such as Cairo, Casablanca, Johannesburg, Lagos, Nairobi, Port Louis, Dakar, and Accra. With this new establishment, Mastercard is set to deepen its impact on Uganda’s digital economy and financial sector.