Tuesday, March 31, 2015

With the hype around financial inclusion, MTN Uganda CEO, Brian Goulde, hints on joining in to increase financial inclusion across the country. He seeks to work with the regulator - the Central Bank to enable them (Telecom Companies) extend their services to reach the unbanked.

MTN Uganda boosts of about 8 million mobile money subscribers with 3.2million active monthly
Mobile Money has been and still is a a key drive of economy activity in Uganda. Telecoms joining the financial industry could play a fundamental role in increasing financial inclusion, however, it could be wise if they partnered with innovative and progressive financial institutions - not existing banks per say. This would allow the Telecoms to focus on their core business and allow innovation to happen, allowing startups with innovative and create services that reach people at the bottom of the pyramid. This means that Telecoms like MTN should allow these startups easy access to their Mobile Money API, so that innovation can be spurred.