Kampala, Uganda | THE INDEPENDENT | The Uganda Microfinance Regulatory Authority (UMRA) and PostBank Uganda on 21st October 2024 signed a Memorandum of Understanding (MoU) to initiate a collaboration aimed at digitizing the operations of tier IV Microfinance Institutions through PostBank’s Wendi mobile wallet, so that the last mile beneficiary can …
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NAIROBI, KENYA | Xinhua | On the bustling streets of Nairobi, the green glow of the M-Pesa (a mobile money platform) logo is inescapable, from high-end hotels to street vendors. In some tourist hotspots, signs declaring “No Cash” highlight a striking shift: over 90 percent of adults in the East …
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COMMENT| Gabby Asare Otchere-Darko | For over sixty decades, from the Mali Empire through to the OAU Summit of May 1963 and incrementally to date, African unity has remained but a collective dream. One that has been sustained more by a recognition of its essence rather than a conviction for its …
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However, the number of individuals storing cash at home for long-term savings has risen from 27% to 44%, signaling potential distrust in formal financial institutions Kampala, Uganda | THE INDEPENDENT | Mobile money, Savings, and Credit Cooperatives Organizations (SACCOs) have emerged as the leading drivers of financial inclusion, according to latest …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority (URA) has appealed to traders who are already registered on Electronic Fiscal Receipting and Invoicing Solutions (EFRIS) to popularize it. It emerges that those opposed to this solution think that it is a form of tax. Electronic Fiscal Receipting and Invoicing …
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Mukono, Uganda | THE INDEPENDENT | The Directorate of Crime Intelligence (DCI), and Mukono Central Police Station, have arrested Sabiiti Kaporonyo, a 48-year-old hacker. Kaporonyo was reported by several mobile money dealers and civilians for unauthorized withdrawals from their SIM cards for more than a month. Crime Intelligence and Mukono …
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Addis Ababa, Ethiopia | Xinhua | Ethiopia’s first private telecom firm Safaricom Ethiopia has officially introduced its mobile financial service, M-Pesa, three months after the telecom company received the payment instrument issuer license from the National Bank of Ethiopia. In preparation for the launch, M-Pesa has undergone a rigorous three-month …
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More than 600,000 customers are now using MTN MoMo as a mode of payment Kampala, Uganda | THE INDEPENDENT | MTN Uganda hopes to grow its MTN Mobile Money business on a newly launched mobile-based supply chain platform that allows businesses in the Fast-Moving Consumer Goods (FMCG) to place orders, generate …
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Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has warned of strong penalties in new regulatory measures, against telecommunications and financial service companies that violate competition and pricing rules. In the draft Fair Competition law, the industry regulator says unfair competition practices are stifling the growth of the digital …
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COMMENT | Samson Tinka | In 2012, while working for a private secuirty firm in Kampala, I was one early morning awaken bya call from our supervisor in Masaka that one of the clients near Masaka town-Petrol Station was attacked the previous night and robbed. The money taken was only …
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