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Mobile payments

The exterior of a shop offering mobile money services in Kampala
Cyber Security

Africa’s mobile money platforms are failing their festive stress test

With mobile money transactions peaking in December, weak encryption and simple PINs provide opportunities for cybercriminals targeting Africa's digital payments
Three communications and politics researchers wondered whether African journalists were uncritically talking up fintech or were warning of its risks. They analysed news coverage and looked at journalism published between 2016 and 2021 by leading newspapers in Kenya, Uganda, and South Africa, as well as through the AllAfrica news aggregator. Based on their initial examination of 368 articles, they identified nine themes or frames that appeared frequently in news coverage of fintech.

Media often tout fintech as answer to Africa’s problems, overlooking its downsides

African headlines often praise fintech as solving the continent's economic problems, but some political economists and social theorists challenge this narrative
Michael Atingi-Ego, deputy governor Bank of Uganda, stands with other officials at the launch of PostBank's Wendi mobile platform, 1 November 2023

PostBank’s mobile wallet worthy addition to financial inclusion arsenal, says BoU deputy governor

Central Bank deputy governor advised PostBank to ensure that its Wendi platform is efficient, reliable, user-friendly, and secure to protect user data
A mobile money kiosk in downtown Kampala. Credit: Edgar Batte/Uganda Business News

Government considers taxing PayWay, Ezeemoney and similar platforms

The government is mooting imposing taxes on "alternative" payment platforms like PayWay, Ezeemoney, and agent banking because the recently introduced mobile money tax does not apply to them, according to the state minister for finance
UBA poster for the 2018 Annual Bankers' Conference

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
A mobile money agent in Gulu, Northern Uganda

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

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

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

The uneasy relationship between online betting and mobile money

Supporters of mobile-based sports betting in Africa will tell list off a number of gambling benefits including increased employment opportunities, easy money for low-income earners, tax revenue for government, and general economic growth.

More Mobile payments

26 September 2016

Banks and Visa seek slice of maturing mobile money sector

Stanbic's platform is the second mobile banking product after MoKash, a partnership between MTN and Commercial Bank of Africa which launched in August. Kenya's Equity Bank is also exploring the possibility of extending its Equitel service to Uganda.

9 September 2016

Airtel’s share of mobile money agents grows, but still behind MTN

The mobile money sector is dominated by two telecoms, MTN Uganda and Airtel, who together account for 99% of mobile money agent market presence, according to a new report. The market leader is MTN with 57%, followed by Airtel with 42%.

MTN Offices in Kampala