In a decisive move to accelerate Uganda’s shift to a cashless economy, Housing Finance Bank (HFB) has partnered with Pesapal Uganda to expand access to seamless digital payment solutions across the country.
The collaboration is set to transform how businesses—especially Small and Medium Enterprises (SMEs)—handle transactions.
By integrating Pesapal’s cutting-edge platforms, including point-of-sale (POS) terminals and e-commerce systems, businesses will gain access to more flexible, secure, and efficient collection channels.
This partnership goes beyond convenience. It’s a calculated step toward long-term financial inclusion and economic growth.
Driving Financial Inclusion Through Innovation
Ivan Kituuka, Head of Distribution & Alternate Channels at HFB, underscored the urgency of digital adoption in Uganda’s fast-evolving financial sector.
With mobile and card-based payments on the rise, he said, “This partnership makes transactions easier, reduces dependency on cash, and brings the goal of a cashless Uganda within reach.”
Kituuka emphasized that the bank’s mission is to simplify banking, and this partnership is a natural extension of that vision.
“Businesses and consumers alike need efficient tools that meet today’s demands. Together with Pesapal, we’re delivering just that.”
Expanding Reach and Empowering SMEs
The rollout of Pesapal solutions will be backed by HFB’s nationwide branch network, allowing the service to scale rapidly.
From restaurants and hospitals to fuel stations and supermarkets, merchants will be equipped to accept digital payments with ease. For SMEs, this means faster access to funds, streamlined operations, and more opportunities to grow.
Martin Barungi, Director at Pesapal Uganda, described the partnership as a meeting of minds.
“We share a commitment to digital inclusion and empowering Ugandan businesses,” he said. “This partnership ensures merchants and customers enjoy secure, fast, and hassle-free payments—anytime, anywhere.”
Uganda Joins the Global Cashless Momentum
Globally, digital payments are projected to hit USD 15 trillion by 2027. Uganda is catching up quickly, with year-on-year increases in mobile money and card-based transactions.
This joint venture places HFB and Pesapal firmly at the forefront of Uganda’s digital finance revolution.
The move signals a broader trend: local institutions taking the lead in financial innovation. While global players dominate headlines, it’s partnerships like this—deeply rooted in local context—that are driving real, on-the-ground transformation.
As Uganda’s digital ecosystem matures, this collaboration could become a cornerstone in the country’s cashless future—proving that banking doesn’t need to be complicated, just smarter.
