Telecom giants MTN has led all the way as mobile money transactions\u00a0hit a record Shs113.38 Trillion according to figures released by Bank of Uganda for the Financial Year 2020\/21.
The Central Bank Governor Prof. Emmanuel Tumusiime-Mutebile said that in accordance with \u00a0National Payment Systems Act 2020, each of the companies involved in mobile money business received a Payment Systems Operator (large funds transfer) license and a Payment Service Provider.
The Central Bank report shows that the value of Mobile Money transactions increased by 42.26 percent to Shs113.38Trn\u00a0(in 2020\/21)\u00a0from Shs79.7 trillion,\u00a0while the volume of transactions increased by Shs730M to Shs3.89Bn. The improved performance was a result of the increased usage of the mobile money digital platform during the global -novel<\/p>\n\n\n\n
\u00a0COVID19 pandemic .
Bank of Uganda also revealed that the number of active mobile money users increased to \u00a021.18 million during the year under review up from 17.5 million \u00a0in 2019\/2020.
This was the first time Bank of Uganda has a legal instrument upon which it is regulating mobile money to ensure equity and transparency since MTN Uganda Limited and Airtel Uganda Limited \u00a0were licenced to operate mobile money services more than 10 years ago.<\/p>\n","protected":false},"excerpt":{"rendered":"
Telecom giants MTN has led all the way as mobile money transactions\u00a0hit a record Shs113.38 Trillion according to figures released<\/p>\n","protected":false},"author":1,"featured_media":4392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[24,65],"tags":[],"class_list":["post-4391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-national-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/10\/MTN-Mobile-Money.jpg","jetpack-related-posts":[{"id":16166,"url":"https:\/\/prowebinhost.com\/anzu\/mobile-money-transaction-value-grows-five-times-more-than-ugandas-commercial-bank-assets-bou-data-shows\/","url_meta":{"origin":4391,"position":0},"title":"Mobile Money transaction value grows five times more than Uganda’s commercial bank assets- BoU data shows","author":"UgandaUpdate","date":"December 18, 2025","format":false,"excerpt":"The annual value of mobile money transactions in Uganda is now approximately five times greater than the entire commercial banking sector\u2019s balance sheet, underscoring a fundamental shift in the nation\u2019s financial ecosystem, according to new data from the Bank of Uganda. Mobile money transactions soared to 253.7 trillion shillings in\u2026","rel":"","context":"In "National News"","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/12\/Screenshot_20221109-163514.webp","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/12\/Screenshot_20221109-163514.webp 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/12\/Screenshot_20221109-163514.webp 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/12\/Screenshot_20221109-163514.webp 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/12\/Screenshot_20221109-163514.webp 3x"},"classes":[]},{"id":4950,"url":"https:\/\/prowebinhost.com\/anzu\/mtn-uganda-to-make-more-money-after-introducing-momoadvance-overdraft-facility\/","url_meta":{"origin":4391,"position":1},"title":"MTN Uganda To make more money after Introducing MoMoAdvance, Overdraft Facility","author":"UgandaUpdate","date":"January 15, 2022","format":false,"excerpt":"MTN Uganda is expected to make more money with their bottom-line expected to more than double after introducing a new product - the \u00a0MoMoAdvance, that will allow customers pre-authorisation of transactions for payment to be made later.\u00a0 The facility has been launched following a pilot program conducted in 2020. 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A commercial bank , Stanbic was also affected by the hacking attack which in some\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/prowebinhost.com\/anzu\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/10\/Airtel-MTN-Money-logo-horz.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/10\/Airtel-MTN-Money-logo-horz.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/10\/Airtel-MTN-Money-logo-horz.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/10\/Airtel-MTN-Money-logo-horz.jpg 2x"},"classes":[]},{"id":4935,"url":"https:\/\/prowebinhost.com\/anzu\/ugandas-mobile-money-industry-hits-a-new-high-as-market-leaders-mtn-launch-a-new-advanceoverdraft-service\/","url_meta":{"origin":4391,"position":3},"title":"UGANDA\u2019S MOBILE MONEY INDUSTRY HITS A NEW HIGH AS MARKET LEADERS MTN LAUNCH \u00a0A NEW \u00a0ADVANCE,OVERDRAFT SERVICE","author":"UgandaUpdate","date":"January 12, 2022","format":false,"excerpt":"As the competition for Uganda\u2019s mobile money market share intensifies -MTN Mobile Money \u00a0has entered into \u00a0partnership with NCBA Bank to \u00a0launched a new product on the market\u00a0 -the MTN MoMo overdraft which will be know as \u2013 MoMoAdvance where MTN MoMo customers will now be in position to receive\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/prowebinhost.com\/anzu\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/01\/Stephen-Mutana-the-Acting-CEO-of-MTN-Uganda-Mobile-Money-Limited.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/01\/Stephen-Mutana-the-Acting-CEO-of-MTN-Uganda-Mobile-Money-Limited.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/01\/Stephen-Mutana-the-Acting-CEO-of-MTN-Uganda-Mobile-Money-Limited.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/01\/Stephen-Mutana-the-Acting-CEO-of-MTN-Uganda-Mobile-Money-Limited.jpg 2x"},"classes":[]},{"id":4452,"url":"https:\/\/prowebinhost.com\/anzu\/mtn-boss-vanhelleputte-answers-your-questions-about-the-mtn-ipo\/","url_meta":{"origin":4391,"position":4},"title":"MTN BOSS VANHELLEPUTTE ANSWERS YOUR QUESTIONS ABOUT THE MTN IPO","author":"UgandaUpdate","date":"November 3, 2021","format":false,"excerpt":"MTN Uganda opened its Initial Public Offer that will run until 22nd\u00a0November 2021 4pm. The are three weeks to go and the MTN Uganda Chief Executive Officer,\u00a0WIM VANHELLEPUTTE\u00a0sheds more light on the MTN IPO, responding to some of the pertinent questions from the prospective retail investors. First and foremost, how\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/prowebinhost.com\/anzu\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/11\/mtn-boss.jpg","width":350,"height":200},"classes":[]},{"id":3339,"url":"https:\/\/prowebinhost.com\/anzu\/will-bou-supervising-mobile-money-stop-the-cruel-2-loss-by-users\/","url_meta":{"origin":4391,"position":5},"title":"Will BoU Supervising Mobile Money Stop the Cruel 2% Loss by Users?","author":"UgandaUpdate","date":"May 25, 2021","format":false,"excerpt":"BY OUR SPECIAL CORRESPONDENT The Bank of Uganda has taken the bold, necessary step to take over supervision of the mobile money operations in the country. 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The move was indeed overdue, possibly an\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/prowebinhost.com\/anzu\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/05\/Mutebile-.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/05\/Mutebile-.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/05\/Mutebile-.jpg 1.5x"},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/pc0aOV-18P","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/4391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/comments?post=4391"}],"version-history":[{"count":1,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/4391\/revisions"}],"predecessor-version":[{"id":4393,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/4391\/revisions\/4393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media\/4392"}],"wp:attachment":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media?parent=4391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/categories?post=4391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/tags?post=4391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}