Mobile money business grows. Case study – Uganda

The mobile money service allows a mobile phone user to send and receive, pay for services using the mobile phone. MTN Uganda, who pioneered the service in 2009, controls 80 percent of mobile money transactions in Uganda, moving US$ 90 million (Shs 216 billion) a month across its network.

The other 20 percent is shared between Airtel Uganda and Uganda Telecoms Limited (UTL), to make a combined total of over 3 million users.

Warid telecom Uganda, another of the telecommunication companies in Uganda has marked two weeks in the mobile money business registering success, a top official at the company has said.

Shailendra Naidu, Warid’s commercial officer told reporters in an interview that the facility – (Warid Pesa) which was launched in December last year has so far seen many customers use without any difficulty.

“The numbers are overwhelming though I won’t mention how many customers and agents we have so far, but the number is far above than we expected,” Naidu said.

Uganda Communications Commission (UCC) which regulates telecommunication companies; the Central Bank (Bank of Uganda) and the operators are planning to meet and find a legal framework on which to regulate the facility which has no regulator as of now.