Mobile Money Transactions In Uganda Hits New Record

Mobile money transactions in Uganda hit 40.7 trillion Uganda Shillings worth of transactions during the lockdown. This is according to data from Bank of Uganda between January and June 2020.

The total combined amount for the year till June 2020 recoded 79.8 trillion Uganda Shillings. This marked a growth of 19.3% due to a growth of active internet users upto  36.7% and those using mobile money platforms increased by 46.9% for the year under review compared to the same period last year.

Mobile money transactions have been growing across Africa and is a notable tool in boosting financial inclusion on the continent.

The lockdown due to COVID-19 witness a rise of online businesses and transactions that developed because of movement restrictions.

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