What does it take to get an e-money licence in Uganda?
To hold an e-money licence in Uganda, you need the Electronic Money Issuer licence from Bank of Uganda. Published minimum capital: Tiered by trust-account value: large (trust > UGX 200bn) = UGX 10,000,000,000; medium (> UGX 500m, ≤ 200bn) = UGX 5,000,000,000; small (≤ UGX 500m) = UGX 250,000,000. 5 entities currently hold an e-money licence in Uganda. Full requirements — minimum capital, local presence, timeline, local ownership, fees and ongoing obligations — are set out below in each instrument's own words, with source and date; amounts are in the statute's own currency.
“E-money issuance” here is the normalized activity: Issue stored-value / electronic money redeemable at par and hold the customer float. The category of licence that lets a provider keep customers' money.
Activity id (as used by the Afriset MCP): fintech:EMONEY_ISSUE
Electronic Money Issuer
Bank of Uganda| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | Tiered by trust-account value: large (trust > UGX 200bn) = UGX 10,000,000,000; medium (> UGX 500m, ≤ 200bn) = UGX 5,000,000,000; small (≤ UGX 500m) = UGX 250,000,000 Verbatim“Payment service provider (a) electronic money issuer (i) large electronic money issuer whose total trust account value exceeds two hundred billion shillings. … 10,000,000,000/= (ii) medium electronic money issuer whose total trust account value exceeds five hundred million but does not exceed two hundred billion shillings. … 5,000,000,000/= (iii) small electronic money issuer whose total trust account value does not exceed five hundred million shillings. … 250,000,000/=” | National Payment Systems Regulations, 2021 (S.I. 2021 No. 18) | 2021-02-26 |
| Local presence / incorporation | Local subsidiary required; premises inspected; primary data centre must be in Uganda Verbatim“…that intends to issue electronic money shall establish a subsidiary legal entity for that purpose … An electronic money issuer shall establish and maintain its primary data center … in Uganda … …shall before grant of a licence … inspect the premises” | National Payment Systems Act, 2020 (Cap. 59), consolidated | 2020-09-04 |
| Timeline | Processing: licence granted within 60 days of application. Validity: open-ended (valid until revoked). Verbatim“The central bank shall grant the license within sixty days from the date of the application … A licence granted under this Act shall be valid until revoked” | National Payment Systems Act, 2020 (Cap. 59), consolidated | 2020-09-04 |
| Local ownership | No such requirement: No local-shareholding percentage prescribed (fit-and-proper + beneficial-owner disclosure, not a nationality quota) | National Payment Systems Regulations, 2021 (S.I. 2021 No. 18) | 2021-02-26 |
| Fees | By EMI size tier: application UGX 3,000,000 (all tiers); licence fee large 25m / medium 20m / small 15m; annual fee large 25m / medium 20m / small 15m Verbatim“3,000,000/= … 25,000,000/= … 25,000,000/= … 3,000,000/= … 20,000,000/= … 20,000,000/= … 3,000,000/= … 15,000,000/= … 15,000,000/=” | National Payment Systems Regulations, 2021 (S.I. 2021 No. 18) | 2021-02-26 |
| Ongoing obligations | Trust/safeguarding: issue e-money only after equal cash deposited in a trust/special account (s.47(1)(a); s.49); 100% of e-money in liquid assets (s.60(1)); no commingling (s.53(c)). AML: comply with AML Act 2013 (s.47(5)(e)); AML/CFT policy (reg 3(2)(s)). Reporting: monthly/weekly/daily reconciliation returns (reg 22; reg 21); audited financials by 30 Apr (reg 23(6)). Capital: maintain unimpaired; 90-day cure on shortfall (s.66(2); reg 8(3)). Verbatim“issue electronic money only after an equivalent amount of cash is deposited in the trust account or a special account … shall keep one hundred per cent of the electronic money held … in liquid assets … within ninety days” | National Payment Systems Act, 2020 (Cap. 59), consolidated | 2020-09-04 |
Requirements as published in the cited instruments — not legal or compliance advice. Capital and fees are shown in the currency the statute itself uses. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.
Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.
Who already holds this licence?
5 entities are on the Bank of Uganda register under the Electronic Money Issuer category — view the register .
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