A recent directive by the Bank of Uganda (BoU) for all digital financial transactions of one million Ugandan shilling ($260) and above to be completed upon the presentation of a government-issued ID document has sparked diverse reactions.
Critics say the move announced this month by the country’s central bank will bring about several challenges and slow down business given that many citizens in the country do not have ID cards. The BoU announced in a message on its X account that following a surge in digital payments fraud, it was forced to compel authorized operators to comply with certain regulatory requirements.
