Uganda's M-PESA services to boost economic growth
NEWSWATCH: A partnership between Safaricom and Uganda's leading operator MTN means M-PESA users can now send money to the country.
This is part of the 'cashless revolution' expected to unlock intra-African remittances while serving as catalyst for trade and economic growth in the region, reports Mobile Money Africa.
The M-PESA International Money Transfer service is already active across the continent through Vodacom of Tanzania and MTN of Rwanda.
CNBC Africa adds that the pact will likely increase trade between Uganda and Kenya, as one of Kenya's top trading partners, with the added benefit of cheaper remittance services.
Safaricom has over 22 million M-Pesa users, clarifies AllAfrica.
Related
Africa's digital future: Mastercard's $1.5tn vision for growth 26 Mar 2025 Kenya's Safaricom raises $117m with local sustainability-linked loan 25 Sep 2024 Peak and Dale acquires Bean Interactive to boost its tech and communications leadership in Africa 15 Aug 2024 MTN tops Brand Finance Africa 200 2024 rankings 27 May 2024 Vodacom reports strong revenue increase on back of VodaPay and acquisitions 13 May 2024 East Africa internet disrupted by another major undersea cable cut 12 May 2024
