“I mean, for us (dfcu Bank), a top three position should really be where we should be going. We should be among the top three banks in the country. We should be able to move into the top three banks in the short run. That is our aspiration and we should be able to see ourselves being able to do that,” Charles Mudiwa, the Chief Executive Officer of Uganda’s dfcu Bank, told media at a working lunch organised by the bank on March 15th 2024 at Golden Tulip Hotel, Kampala. Mr. Mudiwa who assumed the leadership role of Uganda’s…
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I&M Bank Uganda has promised to deliver the “best and most convenient banking services and experience” to its customers as it switches from the old Orient Bank-branded Visa debit cards to the all-new I&M Bank Mastercard debit cards. In recent months, I&M Bank Uganda has urged its customers to upgrade to the new and improved I&M Bank Mastercards by February 1, since its new banking system will not be able to support the Visa debit cards which customers used previously. “We are on course to offer the best and most convenient banking services and experience to our customers. Our recent…
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I&M Bank Uganda has announced its strategic partnership with Mastercard, a global leader in digital payments and technology. The collaboration aims to revolutionize the banking experience for customers by driving digital transformation and enhancing payment security through cutting-edge digital payment solutions. The bank launched a range of new I&M Bank Mastercard cards to the market, including the I&M Bank Standard Debit Mastercard, I&M Bank World Debit Mastercard, and I&M Bank World Elite Debit Card, which will offer enhanced features and functionality that will greatly transform the customers’ experience and how they manage their finances and make payments. Recognizing the increasing importance…
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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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Uganda has emerged 4th out of 33 countries who have completed a pan African Robotics Competition in Senegal. The win has also placed Uganda in the first position in East Africa ahead of Burundi and Kenya who also participated. On top of the bronze win, the Uganda team has won ‘Most Innovative team’ award. Eight children from Young Engineers Uganda, who were recently nominated for this year’s competition to represent Uganda in Dakar, Senegal were flagged off on June 27, 2022 by Nyabushozi County MP Wilson Kajwengye at Hotel La Verna in Seguku, Wakiso District. Young Engineers Uganda is Science,…
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Mastercard and Ecobank Group have partnered to connect millions of smallholder farmers in Sub-Saharan Africa to Mastercard’s Farm Pass – a digital platform that makes it safer and easier for farmers to sell their produce at a fair price. Under the partnership, Ecobank will extend the reach and impact of the Mastercard Farm Pass platform leveraging its Pan-African network of 33 countries. Many smallholder farmers in Sub-Saharan Africa face several challenges. These include: limited access to markets, working capital to finance activities or secure quality inputs and relevant financial tools to pay and get paid efficiently. This has led to…
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Mastercard has announced the appointment of Victor Ndlovu as Director, Country Business Development Lead, East Africa. In his new role, Victor is responsible for growing Mastercard’s regional footprint in the East Africa region through increasing market share, driving market acceptance and increasing the number of customer touchpoints. Victor is a seasoned business leader with close to three decades of solid experience in the fintech, banking and payments industry. He joins Mastercard from Ukheshe, based in South Africa, where he spearheaded the Fintech’s presence in Africa with deals at KCB Bank and Ecobank Pan Africa. “I am pleased to announce the…
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Airtel Africa on April signed an agreement under which Mastercard, a leading innovator and global technology company in the payments industry, will invest $100m in Airtel Mobile Commerce BV (“AMC BV”), a wholly owned subsidiary of Airtel Africa plc (the “Transaction”). AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries. The Transaction values Airtel Africa’s mobile money business at $2.65bn on a cash and debt free basis. Mastercard will hold a minority stake in AMC…
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Mastercard and MTN has announced a strategic partnership to enable millions of MTN MoMo customers in 16 African countries to shop and pay online with global merchants. Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers can now unlock a host of opportunities and shop from their favorite international brands online while in their home countries or travelling abroad. The announcement comes at a time when e-commerce and online shopping are reaching record levels across Africa. According to the Economy 2021 outlook conducted by the Mastercard Economics Institute, 20-30% of the COVID-19-related surge in…
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Airtel Uganda has today announced the launch of a Pay-on-Demand mobile platform in partnership with Mastercard, Samsung and Asante Financial Services Group (“Asante”). The solution will enable digital access to smartphone devices for under-served consumers as well as micro, small and medium enterprises (MSMEs) and is poised to help drive financial inclusion and generate improved economic possibilities for people and businesses. The platform directly tackles the ongoing socioeconomic difficulties, resulting from limited access to financing that are faced by many consumers, entrepreneurs and merchants across Uganda. The service dubbed Kwata Essimu, will offer Airtel Uganda customers a chance to own…
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