Mastercard, a US-based payment processing company, and Financial Sector Deepening (FSD) Uganda, an affiliate of the nonprofit FSD Africa, recently entered a memorandum of understanding to createfinancial products intended to expand financial inclusion within Uganda. The partners aims to build digital payment solutions focused on the agriculture, education, health and trade sectors. Mastercard and FSD Uganda also plan to explore areas such as customer protection and education as well as to engage the Ugandan government to make the financial environment more investment-friendly.
Mastercard, founded in 1966 and headquartered in the city of Purchase, New York, is a financial technology company operating in 210 countries.
FSD Uganda is a branch of FSD Africa, a Nairobi-based NGO funded by the government of the United Kingdom. The mission of FSD Uganda is to support innovation, participate in research and promote policies that improve financial inclusion within the country.
By Ryan Gauthier, Research Associate
Sources and Additional Information
FSD Uganda press release:
Mastercard home page:
FSD Africa home page:
FSD Uganda home page:
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