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Uganda’s biggest Fintech, MTN Mobile Money (MoMo), is moving out of the family home. Long treated as just another product line within the telecom’s machinery, MoMo is being carved out into a separate corporate entity—MTN New FinCo—with ambitions to scale faster, partner globally, and perhaps one day join Africa’s elusive unicorn club. It’s a shift more than a decade in the making. Launched in 2009, MoMo lived for years as a revenue-generating cog inside MTN Uganda’s telecom engine. Its financials were buried within a blended mix of voice, data, and airtime earnings. Even after the 2021 National Payment Systems Act…
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Nyombi Thembo, a shrewd politician and an economist is no stranger to the corporate corridors at Uganda Communications Commission headquarters in Bugolobi, an affluent Kampala suburb. Before his appointment as new executive director, Nyombi has been serving as Director of the Uganda Communications Universal Service and Access Fund (UCUSAF) since January 2017 under the close watch of his predecessor and former boss, Ms Irene Kaggwa Ssewankambo. Ms Kaggwa continues in her substantive role as Director of Engineering and Communications Infrastructure. Ms Kaggwa took over from Godfrey Mutabazi in February 2020, and her tenure in an acting capacity lasted for nearly…
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George William Nyombi Thembo was born in 1964, just two years after Uganda’s independence to the late Erisa Somongu- a political activist and a Kabaka Yekka die-hard, Eseza Nanyonga Ziribasanga in Kasanda Country, present-day Mubende District. In his words, he was born “in a very humble family where the only thing we had that was relevant and a big asset was religion and the fear of God”. “We had a few goats, which I remember we used to share the house with, and a few cows; about three,” he recently recounted to Flavia Tumusiime on Capital FM’s Desert Island Disc…
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