Digital Economy

Digital Economy

Bank of Uganda governor warns on digital banking risks

BoU governor says that while digital banking innovations accrue benefits to financial institutions and customers, they also present associated risks that if not managed well could outweigh the benefits
Emmanuel Tumusiime-Mutebile, the governor of the Bank of Uganda
Digital EconomyPolitics & Policy

Airtime Scratch Cards: Today is last day they can be used, minister insists

The Uganda Communications Commission and the Ministry of Information, Technology and National Guidance have maintained that today marks the last day for the use of airtime scratch cards
A mobile money agent in Gulu, Northern Uganda
CompaniesDigital Economy

GSMA ranks Uganda among top tech hubs in Africa

Research by the GSMA Ecosystem Accelerator programme found that there were 355 active tech hubs across Sub-Saharan Africa in 2018, up from 239 in 2016. Nearly half of all the tech hubs are located in five countries, which include Uganda
Startup employees at work in Tanzania
CompaniesDigital EconomyPolitics & Policy

Prime minister, finance minister and IMF resident representative to speak at bankers’ conference

One of the things to watch out for at the annual bankers conference is what bankers say about the new levies on mobile money transactions, especially, which have become a central feature in their digital offerings, and excise duty increases
UBA poster for the 2018 Annual Bankers' Conference
Digital EconomyPolitics & Policy

Museveni calls 1% mobile money tax a mistake, orders for refund of deductions

First, President Museveni reduced the mobile money tax from the initial 1% of all transactions to 0.5% on transactions other than deposits. Now, he's explained his directive - calling the 1% levy a "mistake" and ordering a refund for those taxed at that rate
A mobile money agent in Gulu, Northern Uganda
CompaniesDigital Economy

Blockchain is Africa’s future — Famoco CEO

Lionel Baraban, the co-founder and chief executive of French company Famoco, a leader in Android-based transaction devices, believes African countries are better off adopting blockchain instead of bitcoin and other cryptocurrencies
Digital EconomyEconomyPolitics & Policy

Mobile money dominates formal sector financial inclusion, limitations and all

Financial inclusion is low in Uganda because banks find it costly and unprofitable to extend services to rural areas. But even in urban areas, their services are expensive. Mobile money is the only financial service that has bucked those trends
Digital EconomyPolitics & Policy

Telecoms start collecting social media and mobile money taxes

The new measures, which went into effect on Sunday, include a 1% charge on every mobile money transaction and a Shs200 daily levy for the use of social media
Digital Economy

Ride-hailing apps: Will tech solve our transport issues or will the issues break the new companies?

Movement in Kampala otherwise is too expensive with no set price regulation for trips, too disorganised and too slow. But do these companies need more app features to stay relevant and become profitable or are they doomed by the city?
Digital Economy

Safaricom’s Little Cab launches into Uganda market

Little Cab, the Safaricom-backed ride-hailing company, officially launched in Kampala on Thursday. It is one of the latest cab-hailing apps in the Uganda market
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