Mastercard Inc opened its first office in Uganda’s capital Kampala, expanding its East African footprint as part of efforts to drive financial inclusion and digital payment adoption in the region, the company said.

The move comes as Uganda’s economy is projected to grow 6.2% annually through 2025, according to government estimates.

Mastercard said its local presence would enable closer collaboration with businesses, financial institutions, and authorities to develop tailored digital payment solutions.

The payments firm has signed a memorandum of understanding (MoU) with Uganda’s Ministry of Information and Communications Technology (ICT) to support the government’s “Digital Uganda Vision,” which aims to integrate digital technologies into public services and expand financial access.

Last year, Mastercard secured a Payment System Operator (PSO) license from Uganda’s central bank, allowing it to conduct domestic transaction clearing and settlement services under the National Payment Systems Act 2020.

“Mastercard has a long-standing commitment to Africa, and the opening of our office in Uganda reinforces our dedication to this vibrant market. By being on the ground, we can better collaborate and drive the adoption of digital payment solutions that promote economic growth and financial inclusion,” Mark Elliott, Division President for Africa at Mastercard said.

Mastercard has partnered with African governments and businesses for decades, deploying technologies such as mobile money integration and contactless payments. The company did not disclose investment figures for the Kampala office.