Posted 12/5/2023, 3:45:43 PM
Mobile Money Usage Growing in Uganda's Informal Sector, But Transaction Values Remain Low
- Recent report shows 80% of mobile transactions in Uganda are by people in the informal sector
- Telecoms note adoption of cashless payments in informal sector, though this segment does lowest-value transactions
- MTN managing director welcomes cashless payment growth in informal sector
- Informal sector transactions range from 0 to 60,000 Ugandan Shillings, while formal sector sees higher value
- Mobile money daily transaction value has doubled in past year from 2 million to 8 million Ugandan Shillings