Mobile money transactions now at 721 million – Techjaja

Uganda’s financial sector has been growing with increasing number of mobile money subscribers ever since its inception. Uganda Communication Commission( UCC) has released its communication sector report for the last quarter of 2019 covering the industry performance, trends and key developments in the areas of internet, mobile money and internet usage penetration within the country.

On the mobile money spectrum, the total number of active subscribers who have registered business in the period of 90 days has increased from 14.6 million to 15.6 million between Q2 2019 to Q3 2019. It seems the effects of mobile money tax have finally worn off. In the same period the value of transactions also increased by 7.8% from UGX 17 trillion to 19 trillion.

The number of mobile money registration grew from 25,9 million to 26.4 million within three months, while the number of transactions have increased to 721 million from 673 million.

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The number of mobile money agents grew by 5,826 new agents up from 200,857 to 206,683 which means the number of mobile money agents grew by 2.9%.

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