Airtel Africa has announced plans to list its Airtel Money unit to secure more capital as it seeks a top spot in the growing digital payments ecosystem across Africa, and ward off competition from other equally strong players such as MTN MoMo, Safaricom’s MPESA and other major fintechs. The multinational disclosed its listing plans for Airtel Money set for 2026, according to a Reuters News Agency report published yesterday. The announcement also coincides closely with MTN Group’s plans to spin-off its financial technology (Fintech) business from its listed company under MTN Uganda in the first half of this year. The…
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As the Airtel Money Back-to-School ‘Pay and Win’ campaign enters its final stretch, hundreds of parents and guardians have benefited, reinforcing Airtel Uganda’s continued commitment to financial inclusion and convenience…
Airtel Uganda has reported a profit after tax (PAT) of UGX 316.7 billion for the 12 months to December 2024, signalling improved performance compared to in the same period in 2023. The UGX 316.7 billion was UGX 19.7 billion higher than the UGX 297 billion that the telco reported in the 12 months to December 2023. The growth was largely due to the telco’s strong revenue performance, continued cost efficiencies, innovation, stable macro-economic environment and commitment to meeting the needs of clients and employees. Airtel kept a sustained growth in 2024, with revenues of UGX 1.987 trillion, an 11.4% increase…
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To expand financial inclusion and extend much-needed credit to the financially underserved, Airtel Mobile Commerce Uganda Limited (Airtel Money) and Letshego Uganda have launched LetsGo Pesa digital loans. The unsecured microcredit facility that offers digital loans of between UGX20,ooo to UGX700,000 is made possible by gnuGrid CRB’s Mobile Credit Score. Launched in January this year, the gnuGrid CRB’s Mobile Credit Score, unlike the traditional and more conservative credit scoring system, relies on over 400 alternative data points, such as client mobile financial behaviour, to create a more comprehensive and inclusive credit score that assesses both the ability and willingness to…
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Corporate reputation is an aggregate of public perceptions about an organisation’s social, political, ethical and business behaviour and how people engage with that organisation based on these perceptions. Ultimately, this…
In just four months after its launch, PostBank Uganda’s digital wallet, Wendi has hit a record UGX200 billion in payments to over 200,000 Parish Development Model (PDM) beneficiaries countrywide. According to statistics released by the company, this record has been facilitated by Wendi’s robust network of PostBank payment platforms as well as those of its bank partners and mobile money companies. “Since its launch in November 2023, Wendi has onboarded more than 430,000 subscribers and over 2,000 agents countrywide. These agents are complemented by the numerous touchpoints of our partners; MTN Uganda and Airtel Uganda, who have over 250,000 agents…
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Mastercard Inc., a leading global payments and technology company, has recently announced its decision to acquire a minority stake in the fintech division of MTN Group Ltd., This strategic move comes just two years after Mastercard invested $100 million in Airtel’s mobile money business, demonstrating the company’s continued interest in the burgeoning African fintech sector. Mastercard, headquartered in Purchase, New York, is a multinational financial services corporation. The company operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. Mastercard’s products and solutions make everyday commerce activities –…
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“I don’t think we have dug into the space of bankers or the space of banking. We have just discovered a need that is not being met by conventional banks,” he says. “If you look at the model of most banks, they thrive on high-margin, low volume of customers/transactions model. That is their model. Their prices are huge, and their branches are not many. For mobile money, it is quite different. It is a large volume of customers and very small margins,” he further explains. “We are bringing financial services to those who are excluded or those who are disadvantaged….
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Airtel Mobile Commerce Uganda Limited (AMCUL) will continue to send money to other networks in Uganda, East Africa and the world, for as low as UGX100, following the fintech’s decision to maintain, for good, a price-cutting campaign it launched in December 2022. In a media statement, Airtel Money said it would maintain the reduced transaction charges announced last year, in the #PakaKuGround drive, which cut rates by up to 95%. Japheth Aritho, the AMCUL Managing said that the move was aimed at addressing affordability challenges as well as enhancing interoperability, as the fintech moves to enhance digital financial inclusion. …
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Airtel Mobile Commerce Uganda Limited (AMCUL) the mobile money and digital payments arm of Airtel Africa Plc needs to overhaul its outdated mobile money system to a more dynamic and secure system if it is to avoid repeated hacks in which billions of money have been stolen- an ICT and Cyber Security expert familiar with the AMCUL system has told CEO East Africa Magazine. The expert was commenting on the recent “Root Cause Analysis Report” shared by AMCUL’s Chief Executive Officer, Mr. Japheth Aritho Kinyua with the CEOs and the ICT/Cybersecurity Committee of the Uganda Bankers Association (UBA). According to…
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