MTN Uganda on Monday announced it had reduced it’s mobile money sending charges for tiered amounts between 500 UGX and 45,000 UGX during a press conference that was held at the MTN Service Centre Towers at Forest Mall, Lugogo. The offer is expected to go at least until end of the year.

The reduced charges only apply to MTN Mobile Money customers sending money to other mobile money registered customers.

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.

MTN’s General Manager for Financial Services; Phrase Lubega speakers to the media during the press confernce held at MTN Service Centre Towers at Forest Mall, Lugogo on Monday 07th November, 2016.
MTN’s General Manager for Financial Services; Phrase Lubega speakers to the media during the press confernce held at MTN Service Centre Towers at Forest Mall, Lugogo on Monday 07th November, 2016.

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

Phrase also noted that 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 said.

MTN’s CEO; Wim Vanhelleputte added saying, “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%

During the press conference, MTN also reveals it’s milestone for it’s savings and loans product dubbed MoKash that has now registered more than 1 million customers, since its launch.

In a statement Wim said, that the micro savings and loans product, is now enabling many Ugandans to securely save their money in interest bearing savings accounts and loans for personal or business utilization.