Africa-Press – Uganda. Global cross-border fintech firm NALA has set its sights on expanding diaspora remittances after securing Payment Service Provider (PSP) and Payment System Operator (PSO) licences from the Bank of Uganda, strengthening its footprint in the country’s regulated financial services sector.
The approvals raise NALA’s total number of active licences in Uganda to three, following a Money Remittance Licence issued in 2024, and place the company among a limited group of operators authorised to function across the core layers of the national payments infrastructure under central bank supervision.
With the new licences, NALA can offer secure, real-time and scalable payment services to consumers, businesses and financial institutions, in line with regulatory requirements on system integrity, operational resilience and consumer protection.
The company said it will accelerate investment in interoperable, technology-driven payment infrastructure, with a focus on merchant payments, collections, disbursements and cross-border transactions.
NALA said its infrastructure is designed to support faster and more affordable payment flows from the Ugandan diaspora and international businesses, potentially boosting foreign currency inflows and improving access to global payment networks for local firms.
Commenting on the approvals, NALA founder and chief executive officer Benjamin Fernandes said they marked a key regulatory milestone.
“Securing both the PSP and PSO licences marks an important milestone for NALA and represents our third regulatory approval in Uganda,” Fernandes said.
“We are investing more than $2 million in local infrastructure and partnerships to build payment systems that serve Ugandans at home and across the diaspora, while supporting the local technology ecosystem through APIs that enable companies to scale pan-African businesses and increase foreign currency inflows,”
Founded in 2022, NALA operates consumer and business payment platforms connecting users in the United States, Europe and the United Kingdom to regulated financial institutions across Africa and Asia.
The firm also runs Rafiki, a business-to-business payments platform used by global payment providers, including MoneyGram.
Beyond Uganda, NALA holds licences from central banks in several African markets and in Europe, the United Kingdom and the United States, as part of a broader strategy to expand regulated cross-border financial services.
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