eTranzact ventures into Uganda: Expanding its operations in East Africa

eTranzact in Uganda

eTranzact, doing business as eTranzact Global Limited, is a fintech and payment technology provider in Nigeria. After obtaining an operational Licences from the Central Bank of Uganda (BoU), the declared its entrance into the Ugandan market.

BoU has issued two Licences to the financial technology company under the National Payment Systems Operator Act of 2020. These Licences authorize eTranzact to function as a Payment Systems Operator (PSO) (specifically in Small Funds Transfer, Clearing Systems, or Switches) and as a Payment Service Provider (PSP) Class A (pertaining to Small Electronic Money Issuance). These licenses were granted in April 2024.

However, the company is operating under another business name in Uganda; eTranzact Platform Limited, Uganda. With these Licences, eTranzact will be able to offer a variety of payment solutions and services to both Ugandan businesses and consumers, delivering digital payment platforms, mobile banking solutions, and electronic fund transfers.

Valentine Obi, the Group CEO and Founder of eTranzact, sees this expansion as a testament to the company’s dedication to broadening its global presence and enhancing financial inclusion across the continent. He remarked, “We believe our top-tier payment solutions, rooted in advanced technology, will equip businesses with the convenience and security essential in today’s digital landscape.”

Lastly, eTranzact is listed on the Nigerian stock exchange (NSE); that’s, eTranzact is a publicly traded company in Nigeria. The company also operates across various African nations, including DR Congo, Ghana, Cameroon, South Africa, and Liberia.