Mastercard and the Uganda Ministry of ICT & National Guidance have signed a Memorandum of Understanding (MoU) to accelerate digital transformation across the country. This collaboration marks a significant milestone in the implementation of the ‘Digital Uganda Vision’, aimed at driving socio-economic development, enhancing services, and driving financial inclusion.

The signing of the MoU took place at the offices of the Ministry of ICT in Kampala, led by Hon. Dr. Chris Baryomunsi, Minister of ICT and National Guidance in Uganda, and Victor Ndlovu, Director and Business Development Lead for East Africa at Mastercard.

The agreement is aligned with Uganda’s digital transformation goals laid out in their Digital Uganda Vision. This vision will empower its citizens, striving to achieve the goals of universal inclusion, sustainable development, economic progress, and poverty eradication through digital innovation combining initiatives across multiple sectors. This vision aligns with Mastercard’s goal of enhancing financial inclusion by bringing 1 billion unbanked and underserved individuals into the digital economy by 2025, including empowering 50 million micro- and small merchants and supporting 25 million women-owned or led businesses.

One of the key focal areas of this partnership is to modernize Uganda’s digital payments ecosystem, making it more inclusive and accessible to micro and small merchants. These merchants will now have the tools they need to connect with the global digital economy and accept payments electronically, broadening their market reach and enhancing their contribution to Uganda’s economic growth.

The initiative will also explore digital payment solutions as a gateway to support e-commerce platforms and e-government initiatives, therefore facilitating both domestic and cross-border transactions. This move is expected to significantly ease the way business is conducted and services are rendered, providing a boost to the country’s economic activities.

Under this MoU, Mastercard will provide technical assistance and expertise to support the Ugandan Government’s digitization and financial inclusion efforts. This includes the digitization of traditional services such as Posta Uganda to capture new revenue flows and deliver integrated and convenient experiences for customers. Additionally, Mastercard and the Uganda Ministry of ICT & National Guidance will focus on enabling skill development among Ugandan start-ups, empowering them with the knowledge and tools needed for success in the digital age.

The realization of a Digital Uganda will electronically deliver a variety of government and private services in various fields like education, health, agriculture, social security, banking, justice, communication and much more. The Government of Uganda is committed to accelerating digital transformation and providing support to all sectors of the economy to enhance livelihoods, generate employment and produce goods for export and import substitution, paving the way for a brighter, more prosperous future for all Ugandans.

Source: Tech Africa News