The Ugandan government is committed to accelerating digital transformation and supporting all sectors of the economy. To this end, it is multiplying partnerships likely to help achieve this objective.

Mastercard announced on Tuesday, February 27, a memorandum of understanding with Uganda’s Ministry of ICT and National Directions. The agreement aims to stimulate socio-economic development, enhance services, and foster financial inclusion in Uganda.

The partnership includes Mastercard’s technical assistance to bolster the Ugandan government’s efforts toward digitization and financial inclusion. This encompasses the digitization of traditional services like Posta Uganda and the national postal service, to generate new revenue streams and provide integrated, user-friendly experiences.

The collaboration also aims to enhance the capabilities of Ugandan startups, enabling them to thrive in the digital era. Specifically, micro and small merchants will be equipped with the necessary tools to connect to the global digital economy and accept electronic payments, thereby broadening their market reach and reinforcing their contribution to Uganda’s economic growth.

This initiative aligns with Uganda’s digital transformation goals outlined in the “Vision 2040” digital strategy. It seeks to empower citizens by aiming for universal inclusion, sustainable development, economic advancement, and poverty eradication through digital innovation across various sectors.

The partnership aligns with Mastercard’s goal of enhancing financial inclusion by integrating one billion unbanked and underserved individuals into the digital economy by 2025. This includes empowering 50 million micro and small traders and supporting 25 million businesses owned or led by women.

Samira Njoya