MTN Uganda cuts mobile money rates

MTN Uganda, the mobile telecom network provider,  last week reduced mobile money sending charges for tiered amounts between UGX500 and UGX45,000 writes JOHN SAMBO.

“To be able to accelerate the financial inclusion that mobile money is at the forefront of supporting, affordability is key. This is why we have taken a decision to reduce the mobile money rates for sending money in the transaction ranges that the majority of our customers transact,” Wim Vanhelleputte, the MTN’s Chief Executive Officer said.

MTN’s General Manager for Financial Services Phrase Lubega said the offer is in line with MTN’s commitment to driving financial inclusion in Uganda while delivering easier and more affordable services to customers.

He said, “We are excited to deliver the first festive season offer, making sending even more affordable for customers on MTN Mobile Money.”

Vanhelleputte said, “We are making it more affordable for the customer to send money using MTN Mobile Money.”

The reduced charges apply to MTN Mobile Money customers sending money to other mobile money registered customers.

Meanwhile MTN also revealed that MoKash, the savings and loans product, has now registered more than a million customers, since its launch 70 days ago.

 “MoKash has experienced tremendous success so far, processing thousands of loans per day and more than 1million customers having registered within the first 70 days,” Vanhelleputte said.

As of 30th June 2016, MTN Uganda recorded 10.1 million subscribers across Uganda, making it the biggest network. Launched in 1998, MTN offers and fixed lines, mobile money services and Internet Service Provisioning.

SOURCE:BUSIWEEK