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KAMPALA, UGANDA | THE INDEPENDENT | Pesapal Uganda has entered into a strategic partnership with Housing Finance Bank (HFB) to accelerate Uganda’s transition toward a cashless economy.
As announced today (April 10), the collaboration will see the integration of Pesapal’s suite of payment solutions—including point-of-sale (POS) terminals and e-commerce platforms—into Housing Finance Bank’s service offerings. This initiative targets Small and Medium Enterprises (SMEs), providing them with access to efficient, secure, and versatile digital payment channels, thereby enhancing both online and in-person transactions.
Ivan Kituuka, head of distribution & alternate channels at Housing Finance Bank, described the partnership as a timely response to the growing dominance of digital transactions in Uganda.
“As the financial sector evolves, we remain committed to simplifying our customers’ banking experiences. This partnership allows us to support businesses with the tools they need to thrive in a digital-first economy,” Kituuka said.
He further emphasized that the bank is leveraging its wide network to scale access to Pesapal’s solutions, which will increase merchant engagement and accelerate financial inclusion. “Our goal is to empower customers and enterprises with innovative solutions that make financial services more accessible and reliable,” he added.
The initiative also aligns with Uganda’s broader digital transformation agenda, promoting economic growth through improved efficiency and expanded financial access.
Martin Barungi, the director at Pesapal Uganda, echoed the sentiment, noting that the partnership reflects a shared commitment to digital financial inclusion.
“We are proud to work with Housing Finance Bank to deliver world-class payment experiences to Ugandan businesses and consumers. As demand for cashless services rises, our solutions will help businesses operate more efficiently and serve their customers better,” Barungi said.
The service rollout will span various sectors, including retail outlets, fuel stations, hospitals, and restaurants. By streamlining transactions and offering quicker access to funds, the partnership is expected to significantly contribute to the country’s cashless transition.
With global projections estimating that the digital payments market will hit USD 15 trillion by 2027, Uganda’s own steady rise in cashless transactions positions both Housing Finance Bank and Pesapal Uganda as key players in the country’s financial innovation landscape.
This collaboration marks a significant milestone in Uganda’s journey toward a digitally inclusive economy, reinforcing Housing Finance Bank’s position as a forward-looking financial institution and Pesapal’s role as a trusted fintech partner.
