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Airtel slashes money transfer rates by upto 79%

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Airtel Money Director Eric Karobia announces up to 70% cuts in the Airtel Money withdrawal rates. On the right is Amit Kapur Airtel Uganda CCO

By Our Reporter

Starting October 31, Airtel Money users will enjoy a massive reduction in cash withdrawal and Person To Person transfer rates as the telecommunications company continues its efforts towards the enhancement of a cashless economy and financial inclusion.

Airtel money customers can now enjoy 79 per cent and 60 per cent reductions on withdrawal and Person To Person transfer rates respectively making it the most competitive rate on the market today.

According to Airtel Uganda Managing Director Mr. V.G. Somasekhar, the company continuously strives to create affordable and innovative solutions for customers including a relentless focus on the fundamental needs of their customers.

“With the massive reduction in cash withdrawal and P2P transfer rates, Airtel Money subscribers can conveniently and instantly do so much more in a reliable and secure manner using their mobile phones. By lowering the cost of these transactions, an increased number of Ugandans will get access to affordable and basic financial services at unmatched rates,” he commented during a press conference held at the Airtel Uganda head office on Monday.

The massive reductions will apply to all transactions between Shs1 million and Shs7 million.

To enhance convenience, Airtel has also increased the transaction limit from the usual Shs5 million to Shs7 million.

“Many of our subscribers use the Airtel Money platform to conduct business and we want to ensure that they are not restricted by the set limits. We feel that an increase in the limits will give them an increased capacity to conduct their businesses unhindered,” Somasekhar added.

Over the years, the Airtel Money platform has evolved to provide virtually all financial services in Uganda – paying bills, school fees, URA services, bank to wallet transactions and many others. Services such as sending money, buying airtime through Airtel money, Airtel money registration and pin reset are all free.

“On our side, we continue to ensure that the platform is safe and we remind all Airtel money users never to share their PINs with anyone,” Somasekhar concluded.

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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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