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Airtel Money to launch cross border money transfer service across East Africa

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Bharti Airtel African leading telecommunications service provider with operations in 20 countries across Asia and Africa has announced plans to launch a cross border money transfer product in East Africa. This is a first in market initiative across Africa and will enable Airtel Money customers to send, receive and withdraw money from their Airtel Money wallets.

The pilot phase will kick off on November 1st, 2014 with the first phase targeting – Kenya, Uganda, Tanzania and Rwanda. This follows an approval by Central Banks of the Governments of Rwanda, Kenya, Tanzania and Uganda to launch this initiative. The next phase of this initiative will roll out the service to other Airtel operating countries within the next year.

Speaking during the 2014 East African CEO Business Summit in Kigali, Rwanda, Chidi Okpala, Director and Airtel Money Head noted: “This is a key milestone for Airtel Money customers because a big virtual barrier has been removed and our customers will be able to transact with ease, across national borders. The service will extend convenience by way of cost efficiency and reach while facilitating remittances and small trades within East Africa”.

He added: “This will not only increase mobile money penetration amongst countries but will also create business opportunities. Mobile money remains a key element in boosting financial inclusion in East Africa. This is also a confirmation of the broader commitment of the Governments of Rwanda, Uganda, Kenya and Tanzania in improving trade and commerce activities within the region.”

The pilot project will also enable Bank of Africa (BOA) customers in Kenya and Uganda to send and receive money across the two countries.

Airtel Money is a secure and convenient mobile commerce service that allows customers to transfer money between one mobile phone to the other across all networks, top up mobile phone with airtime/data or another customer’s mobile phone. It also allows customers to pay utility bills as well as buy goods and services and withdraw cash at selected Automated Teller Machines (ATM)s.

According to the East Africa Community, mobile commerce is gaining importance in the region for its huge role in speeding up transactions – saving time and money for people and businesses. The introduction of more sophisticated financial services, such as credit, savings and insurance schemes through partnerships with financial-services providers has positively changed the way businesses operate speeding up ley elements of regional integration.

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Companies

MTN Uganda launches 5G connectivity, first in East Africa and 3rd in Africa with connection

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By Reporter

MTN Uganda has today taken internet connectivity to another level. With fourth-generation (4G) technology still staggering, the leading telecom company in Uganda has introduced 5G connectivity. At an event today at the offices in Kololo, MTN Uganda demonstrated the first live demo of 5G network in Uganda in an event presided over by Prime Minister Dr. Ruhana Rugunda who represented President Yoweri Museveni fulfilling their earlier promise to commercially roll out 5G in before 2020 ends.“5G will make our life better, drive incremental capacity and open up new businesses. MTN as a company is constantly making efforts to break barriers by democratizing voice and data connectivity in order to improve subscriber experience,” said MTN Uganda’s CEO, Wim Vanhelleputte.

It is also expected that with an adequate spectrum allocated to the 5G standard, the increased capacity would result in lower data cost to Uganda.

MTN is working with South Korean firm ZTE the market leaders in 5G. ZTE is already working with operators to out 5+.

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Local Business

MTN MoMoPay Customers to win free shopping worth UGX 1,000,000 in a Trolley Dash experience.

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By Staff Writer

MTN is set to reward its customers who have embraced paying for their goods and services using the Telecom giant’s mobile payment platform, MTN MoMo Pay.

MoMo Pay is an MTN service that allows customers to pay for their goods and services directly from their mobile money accounts using their mobile devices at no cost. Retailers and businesses receive the payments for the goods and services instantly.

Up to 20 customers will be selected from a draw to participate in a trolley dash where they shall be allowed to shop merchandise of up to 1 million shillings in 60 seconds. To stand a chance to enter the draw, customers are required to make 2 MoMoPay transactions each week. 

Ali Monzer the General Manager Mobile Financial Services said the promotion is MTN’s way of giving back to customers for adopting the service one year since it was launched. “The response from customers has been overwhelming. Many of the people have appreciated the convenience of having to pay for all their goods and services using MoMo Pay. Thus we felt the need to thank them by giving back to them and that’s why we launched this promotion.”

MoMo Pay is MTN’s way of creating convenience for customers and merchants alike. “The world is going cashless today. It’s now more convenient to go cashless than to carry lots of cash on you. You can literally run your life using MoMo Pay. You can pay for your meals, medication, car service, shopping and several other services using MoMo Pay,” Monzer said.

This service is available to merchants who register for the service and all MTN Mobile Money customers.

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Local Business

Harvest Money Expo 4th edition launched

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By Our Reporter

dfcu Bank in partnership with Vision Group and the Netherlands Embassy have launched this year’s edition of the Harvest Money Expo that will take place from 14 th – 16 th February, at Mandela National Stadium, Nambole.

Under the theme ‘Value Addition’, dfcu Bank and its partners seek to improve production and marketing of agricultural products to increase the commodity value in order to ensure a rise in sales, market growth and that farmers get a good price for their products.

The Harvest Money Expo initiative, now in its 4th edition, aims to highlight the contribution of agriculture to the development of the economy and also change the negative perception that most Ugandans hold towards agriculture as not being a good career option.

Speaking during the Expo launch, dfcu Bank’s CEO, Mathias Katamba, said; “The economy of Uganda can be transformed through mechanization improvement of agriculture, commercialization and taking advantage of the unique nature of our country’s weather and soils. As dfcu Bank, we would like to offer more support to the agricultural industry by giving farmers access to equipment for agricultural mechanization through our asset financing product.”

Mr. Katamba also reiterated the need to get young people involved in agriculture to grow the sector.

Last year, over 28,000 people attended the Harvest Money Expo. This year, the sponsors and organizers are aiming for a target of over 35,000 people who will include; farmers, business representatives, the general public, foreign exhibitors from various countries. The Netherlands Embassy has promised to have a ‘Netherlands Village’ at the Expo, where 48 companies including 16 top Dutch agriculture companies will showcase, share knowledge and farming experiences.

The Vision Group CEO, Robert Kabushenga said; “The Harvest Money Expo has become a calendar event for every farmer because of the benefits they get from it. It is also a social event where people come to socialize and share knowledge.”

This year’s Harvest Money Expo will also have in attendance all the past winners of the Best farmers’ competition.

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