Centenary Bank, one of Uganda’s leading microfinance commercial banks, has officially launched Gonza Pay, a secure and bank-backed digital wallet that promises to transform everyday financial transactions across the country. This new platform arrives at a time when Uganda is witnessing rapid growth in digital financial services, yet many citizens still rely heavily on cash for their daily dealings.
Gonza Pay is designed to close that gap by offering a convenient, reliable, and accessible way for individuals and businesses to send, receive, and manage money without the limitations of physical cash.
Available to anyone in Uganda, regardless of whether they already hold an account with Centenary Bank or not, the digital wallet represents a major step forward in the bank’s efforts to deliver modern financial solutions that truly serve the entire population.
The growing momentum of digital transactions in Uganda
Recent statistics from the Bank of Uganda paint a clear picture of the country’s shifting financial habits. In 2025, the value of electronic money transactions increased by 28 percent, rising from $75 billion (UGX 285.9 trillion) to $100.3 billion (UGX 366 trillion). At the same time, the total volume of these transactions grew by 17.3 percent to reach 9.1 billion.
These numbers reflect a strong appetite among Ugandans for faster, more convenient ways to handle money. People today expect financial services that are available at any time and from any location, rather than being tied to bank branches or cash-only systems. This surge in digital activity shows that Ugandans are ready for tools like Gonza Pay that make financial participation simpler and more inclusive.
Despite this progress, significant barriers remain for many citizens, especially those living in rural areas or working in the informal sector. Travelling long distances to a bank branch or agent often involves high transport costs and lost time. Many small business owners and traders continue to operate almost entirely in cash, which makes it difficult to build the financial records needed to access credit or grow their enterprises.
Carrying large amounts of physical cash also exposes individuals to theft and other security risks. These challenges slow down economic activity and keep large segments of the population outside the formal financial system. Gonza Pay has been created specifically to overcome these obstacles by providing a simple, secure platform that allows users to conduct transactions from wherever they are, at any time of day.
What makes Gonza Pay different?
Gonza Pay is more than just another mobile money service. As a bank-backed digital wallet, it combines the convenience of digital transactions with the trust and regulatory oversight that comes from being developed by a licensed commercial bank. This structure gives users confidence that their funds are protected under established banking standards.
The platform enables seamless payments, transfers, and other financial activities without requiring users to visit a physical location. Because it is open to everyone, Gonza Pay extends financial services to people who may never have interacted with a traditional bank before.
Farmers in remote villages, market traders in busy urban centres, and salaried workers in offices can all benefit from the same secure system.
The wallet also serves as a safer alternative to carrying physical cash. Users can store money digitally and access it instantly when needed, reducing the risks associated with theft or loss.
At the same time, the platform creates digital records of transactions, which can later help individuals and businesses demonstrate their financial behaviour when applying for loans or other financial products. This feature is particularly valuable for informal traders and entrepreneurs who have historically struggled to access credit because they lacked formal documentation.
Insights from the launch
During the official launch, Joseph Balikuddembe, Executive Director Business at Centenary Bank, emphasised the strategic importance of the new platform. He explained that Gonza Pay forms part of the bank’s broader SMART Bank transformation.
This journey involves moving away from a traditional, branch-heavy model toward a digitally led approach that uses technology to improve customer experience, expand financial inclusion, and increase operational efficiency. The focus is especially strong on serving rural and underserved communities that have long faced difficulties accessing formal financial services.
Balikuddembe noted that the bank is committed to creating solutions that respond directly to the real needs of customers and communities across Uganda.
Representing the Bank of Uganda, Dr. Tumubweine Twinemanzi, Executive Director National Payments Systems, also spoke at the event on behalf of Deputy Governor Prof. Augustus Nuwagaba. He highlighted how innovations like Gonza Pay contribute to the national goal of increasing access to digital financial services and encouraging greater participation in the formal economy.
Dr. Twinemanzi stressed that technology creates real value when it improves convenience, boosts efficiency, builds trust, and opens up new economic opportunities for citizens. His remarks underscored the alignment between Centenary Bank’s initiative and the country’s wider development objectives.
Who benefits from Gonza Pay?
Gonza Pay has been designed with a wide range of users in mind. Salaried employees can receive salaries directly into the wallet and make payments for bills, school fees, or shopping without handling cash. Entrepreneurs and small business owners gain a secure way to manage daily transactions and build transaction histories that may support future access to credit.
Informal traders and market vendors can accept digital payments from customers, reducing the need to carry large sums of money and improving record-keeping. Farmers can receive payments for produce more efficiently and make purchases of inputs without travelling long distances. Savings groups and community organisations can manage collective funds with greater transparency and security.
By catering to these diverse groups, Gonza Pay helps bring more people into the formal financial system while addressing their specific daily realities.
How to start using Gonza Pay
Getting started with Gonza Pay is straightforward. Interested users can download the application from major app stores or simply dial the USSD code *211# on their mobile phones.
Once registered, they can begin transacting immediately, whether they have an existing Centenary Bank account or are new to the bank’s services. The process has been kept simple to ensure that even first-time users of digital financial tools can participate comfortably.
