Sunday, August 10, 2014

Uganda now has 17.6 mobile money users - a 46% increase

Uganda has registered a 46% increase in mobile money accounts from the last financial year according to the Charles Abuka, the Director of of Financial Stability Department at Bank of Uganda. "The registered users have have risen 46% from 12.1 million in the financial year that ended June 2013 to 17.6 million in June 2014," He said. Mobile money was introduced in Uganda in 2009 and the service has grown exponentially with active users being more than 4 times the bank account holders. Abuka also said that there were 445.7 million transactions valued at UGX 22.2 trillion (USD 8.8bn).