2022 has started on a high note for SafeBoda! The app, very well known for its ride-hailing and convenient service provision, has secured two licenses to provide payment services to Ugandans.
According to a tweet by Fitspa Uganda, the association representing Uganda’s local and global fintech community, SafeBoda – which trades as Guinness Tech Uganda Limited – has been authorized by the Bank of Uganda to issue small electronic money transfers, as well as to operate medium funds transfer.
@SafeBoda congratulations upon attaining your licenses. We are confident that you will put them to great use. 👏 🎉🎉 pic.twitter.com/RbsIOkLBrt— Fitspa Uganda (@FitspaUG) January 4, 2022
This means that SafeBoda will be able to facilitate the transfer of money between its app users, as well as let customers easily withdraw funds at agent points. The company shall also add more payment services to its already existing services to enable customers make payments on the app.
Some of the possible payment options to expect include clearance of Yaka! bills, water bills, tax payments, among others.
Triple SafeBoda wins in just a month
The development comes less than a month after Google announced SafeBoda as the first beneficiary of its $50 million Africa Investment Fund, a venture that will boost SafeBoda’s push into the FinTech space.
SafeBoda said the investment will help “drive its growth in Uganda and Nigeria, scaling its transportation-led app to offer new payment and financial services solutions for its expanding set of customers: passengers, drivers, and merchants.”
Around the same time, SafeBoda partnered with Posta Uganda on a product named ‘SafePosta’ to enable customers to enjoy premium delivery services benchmarking on Posta’s years of experience and SafeBoda’s infrastructure.
The new service will utilize the already existing SafeBoda App, which sits on over 1,000,000 smartphones, to enable customers to request delivery services from the convenience of their homes and offices.