Uganda
Payment Methods

Market overview

Uganda is on a path of fiscal reform and economic restructuring to address its budget deficit and drive sustainable development. Through governance and administrative reforms, the government aims to prioritize social spending over non-priority capital expenditure and optimize taxation through the elimination of tax exemptions. This commitment to fiscal consolidation is reinforced by a comprehensive three-year program supported by a USD 1 billion Extended Credit Facility, with a significant portion of funds already disbursed.

With a predicted revenue of USD 74.0 million by 2024, the eCommerce sector demonstrates growth potential, underpinned by rising consumer demand and digital adoption. Revenue projections indicate a robust compound annual growth rate (CAGR 2024-2028) of 14.8%. By 2028, the projected market volume is expected to reach USD 128.6 million.

Payment methods supported per country

Mobile money payments

Bank card payments

Bank account payments

Cash payments

Pix

Global & local card schemes & wallets

Cards

Mobile money

Digital wallets

Proportion of population having access to a bank account or other financial institution (2017)

33%

Proportion of population using cash-based payments (2017)

80%

Trade exchange

Export

of goods as a % of total

Europe

19%

South Sudan

17%

Kenya

17%

Congo

12%

Tanzania

4%

Import

of goods as a % of total

China

19%

United Arab Emirates

14%

India

11%

Kenya

7%

Europe

7%

Proportion of population using electronic payments (2020-2021)

Mobile money 18%

Real Time Gross Settlement (RTGS) transfers 26%

Banks in Uganda

Bank of Uganda

ABC Capital Bank

Bank of Africa

Bank of Baroda

Barclays Bank

Cairo International Bank

Centenary Bank

Citibank Uganda Limited

DFCU Bank

Diamond Trust Bank

Ecobank Uganda

Equity Bank

GT Bank

Finance Trust Bank

Housing Finance Bank

Imperial Bank Uganda

KCB Bank

NC Bank Uganda

Orient Bank

Stanbic Bank

Standard Chartered Bank

UBA Bank

Mobile carriers in Uganda

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