The Bank of Uganda issued a public notice setting out the entities it has licensed under the National Payment Systems Act, Cap 59 to operate payment systems, provide payment services and issue payment instruments. It reported that licensing commenced in March 2021 and that 54 institutions have so far been authorised across these activities. The licensed activities and classes span Payment System Operators for large, medium or small funds transfer and, where applicable, clearing systems or switches and third-party systems, as well as Payment Service Providers licensed as Class A electronic money issuers (large, medium or small) or for other payment services. Some licensees are also authorised as Issuers of Payment Instruments for Class A payment cards. The notice reiterates that offering a payment service, operating a payment system or issuing a payment instrument without a central bank licence is prohibited, and that contravention is an offence subject to penalties including fine or imprisonment and disqualification from acquiring a licence. Eligible institutions are advised to regularise their operations under Section 7 of the Act to avoid sanctions under Section 6(3) and (4).
Bank of Uganda 2025-12-03
Bank of Uganda publishes list of 54 licensed payment system operators, payment service providers and payment instrument issuers
The Bank of Uganda announced the licensing of 54 entities under the National Payment Systems Act to operate payment systems, provide payment services, and issue payment instruments. The notice emphasizes that operating without a central bank licence is prohibited and subject to penalties. Institutions are urged to comply with the Act to avoid sanctions.