Festive Season Offer: MTN Uganda Reduces Mobile Money Sending Rates

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MTN CEO, Wim Vanhelleputte addressing media and partners at the MTN Towers during the press launch of the MTN Marathon 2016
MTN CEO, Wim Vanhelleputte addressing media and partners at the MTN Towers during the press launch of the MTN Marathon 2016

MTN Uganda today announced that it has reduced mobile money sending charges for tiered amounts between 500 and 45,000/-. The promotion is part of MTN’s festive season offers and will go on at least until end of the year. The reduced charges apply to MTN Mobile Money customers sending money to other mobile money registered customers.

The announcement was made at a press conference in the MTN Service Centre Towers at Forest Mall, Lugogo.

MTN’s General Manager for Financial Services Phrase Lubega said the offer is in line with MTN’s commitment to driving financial inclusion in Uganda while delivering easier and more affordable services to customers.

“We are excited to deliver the first festive season offer, making sending even more affordable for customers on MTN Mobile Money,” he said.

“MTN Mobile Money has always been a simple and convenient service to use with transactions being completed in only a matter of seconds. We are happy to offer customers even more reason to use this product as we head into the festive season,” he noted.

MTN’s Chief Executive Officer Wim Vanhelleputte added; “To be able to accelerate the financial inclusion that mobile money is at the fore front of supporting, affordability is key. This is why we have taken a decision to reduce the mobile money rates for sending money in the transaction ranges that the majority of our customers transact. We are making it more affordable for the customer to send money using MTN Mobile Money.”

New/Reduced charges for sending money using MTN Mobile Money

Transaction Amounts Current charge New/Reduced charges % decrease
500 – 2,500 500 180 64%
2,501 – 5,000 500 350 30%
5,001 – 15,000 1,000 600 40%
15,001 – 30,000 1,000 800 20%
30,001 – 45,000 1,100 1000 9%

 

MTN also revealed that MoKash, the savings and loans product has now registered more than 1 million customers, since its launch 70 days ago.

Commenting on the milestone, the Chief Executive Officer, Wim Vanhelleputte said, “MoKash has experienced tremendous success so far, processing thousands of loans per day and more than 1million customers having registered within the first 70 days.”

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