By Guyson Nangayi – MTN Uganda has become one of the best leading Telecommunications companies in the country. MTN which launched its commercial services On October 21 1998 in Uganda after CELTEL,ZAIN and now AIRTEL, just six months after acquiring and signing of the license, has since grown to be the leading Telecommunications Company in Uganda servicing in excess of 6 Million customers just because it has stable network and advanced services.
MTN Group, the South Africa-based multinational mobile telecommunications company, operating in many African and Middle Eastern countries, was founded in 1994 as a privately business held company and is now operates in over 21 African countries with its slogan “Everywhere you go”.
MTN Uganda has becoming the leading telecommunications company just because of its new services it introduced.
MTN Group, the leading mobile operator in Africa and the Middle East, and Western Union, a leader in global payment services, announced a commercial agreement to introduce international mobile remittance services in the 21 countries where MTN operates, starting with Uganda and that is Mobile money transfer. The service was created by Fundamo and it allows MTN customers to transfer money from one phone to another incredibly quickly through mobile accounts.
Mobile Money was introduced as a way for the “unbanked” to send money to one another by simply entering the mobile number of a friend or a retailer, you can send money or pay for goods. MTN Uganda says that there have been 11.8 million transactions since launch in March 2009, and $195 million USD has been transferred through the platform since mobile money transfer is more complex than an ATM
In Uganda MTN’s MobileMoney service already boasts more than 1 million registered users, making it one of the most successful mobile wallet deployments in the world.
A World Bank report released revealed that Uganda receives nearly US$800 million in remittances every year, making up 3% of the country’s GDP.
Mobile money transfer is the transfer of money to a receiver in which the funds are deposited into a mobile or virtual wallet. It’s still a new innovation in Uganda, with three (MTN, Uganda Telecom and Bharti Airtel) of the nine registered telecom companies in Uganda offering the service.