Just like in Nigeria and many other African countries, payment products and services are well regulated in Uganda by the country’s apex bank, the Bank of Uganda (“BoU”), through its National Payment System Department (“NPSD”). The NPSD oversees the national payment system of the country with the objective of ensuring overall effectiveness and integrity of the payments space. The mandate of the BoU to regulate the payment system is enshrined in the National Payment Systems Act, 2020 (“NPS Act”) which came into force in September 2020 as well as BoU’s Regulations (such as the NPS General Regulations 2021 which was … Continue reading HOW TO SET UP A PAYMENT SYSTEMS COMPANY IN UGANDA