Overview:
The license acquisition coincides with Nala's recent $40 million Series A fundraising, solidifying its presence in Uganda's financial sector.
KAMPALA, UGANDA – Nala, a fintech company, has obtained an International Money Transfer Operator (IMTO) license from the Bank of Uganda, clearing the way for the launch of its money transfer services in the country.
The license acquisition coincides with Nala’s recent $40 million Series A fundraising, solidifying its presence in Uganda’s financial sector.
Nala will officially launch its services on August 29th at The Innovation Village in Kampala, with Chief Operating Officer Nicolai Eddy and representatives from the Bank of Uganda in attendance.
The company’s entry into the Ugandan market is expected to enhance financial inclusion, increase competition, and drive innovation in the financial sector. Nala’s services will provide individuals and businesses with innovative and efficient money transfer solutions, promoting financial inclusion and offering consumers more choices and better services.