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Daily mobile money transactions have hit Shs50 billion up from Shs30 billion recorded in the early part of 2011, according to Bank of Uganda.
However, the central bank is concerned over an increasing trend of fraud associated with mobile money transactions.
Addressing a conference of bankers from East Africa, India and Europe in Kampala early this week, Dr Louis Kasekende, the BoU deputy governor, said telecoms must provide a platform with well - functioning infrastructure to limit risks associated with money in transit on such a platform.
It's 1800hrs local time in East Africa. And this evening at MTN Warehouse in Ntinda, Kampala, we are waiting for the guest of honor, DR. Sam Mulira, the ICT Advisor to the President as the different teams prepare to present the products from this weekend's 54-hours of work.
You'll need to refresh this page after every 5 minutes to catch the up updates.
Lead Organizer, Richard Zulu going through the programme, and introducing Startup Weekend generally. Says process will take two hours.
Okay, we're underway with the first presentation, Databud.