Friday, April 23, 2021
TechMoran
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds
No Result
View All Result
TechMoran
">
Home Business

IFC Gives $3.9 Million to Airtel Money to Expand Access to Mobile Financial Services in Uganda

Sam Wakoba by Sam Wakoba
7 years ago
in Business
4 min read
0

Airtel2IFC has announced an advisory services agreement, valued at $3.9 million, with Airtel Uganda to expand access to mobile financial services to strengthen financial inclusion.

In Uganda, just over half of the adult population has access to formal financial services, leaving the other half no choice but to rely only on cash and informal practices for transactions, savings and credit, which is costly and risky.

The aim of the three-year project is to assist Airtel Money Uganda in strengthening its mobile money operation to increase the number of its active customers. These customers will include rural and underserved communities and women. IFC will provide advisory services on agent network management and product development, funded by the Bill & Melinda Gates Foundation.

Chidi Okpala, Director and Head of Airtel Money Africa, said, “We are quite pleased with this support from IFC and the Bill & Melinda Gates Foundation. It will help us to further strengthen our distribution capability and involvement in deepening access to financial services and the creation of cashless ecosystems in Uganda.”

The implementation of mobile financial services has shown to be a successful way of increasing access to financial services, and thus an important tool in the fight against poverty and the promotion of inclusive economic growth. In Tanzania, recent FinScope data show that the use of mobile money services has helped increase the rate of financial inclusion from 15.8 to 57.4 percent in just four years.

Greta Bull, IFC Head of Micro Retail Advisory Services in Sub-Saharan Africa, said, “The lack of access to formal financial services means many Ugandans have no safe or sustainable way of saving or transacting money. Mobile money offers great potential in extending formal financial services also to the low-income market, and our partnership with Airtel Uganda will further that cause.”

READ  Barclays launches stock broking arm to take investment products & services to the masses

 

Related posts

zoom

Zoom Announces $100 Million Zoom Apps Fund for Developers to Build on its API

April 22, 2021
0

Drone Space Receives Certification for Commercial Drone Operations in Kenya

April 22, 2021
0

Moving Average Indicator in Forex Trading – How Does It Work?

April 20, 2021
0

All you need to know about VPNs

April 20, 2021
0

Kenya’s online trading broker EGM Securities cleared to offer NSE derivatives

April 20, 2021
0

Truecaller launches an enterprise solution for businesses to grow its revenue streams

April 15, 2021
0

 

Readers 2,045

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Sam Wakoba

Sam Wakoba

Taking you on tour through Africa's tech ecosystem, one startup at a time! [email protected]

Related Posts

zoom
Business

Zoom Announces $100 Million Zoom Apps Fund for Developers to Build on its API

April 22, 2021
0
Business

Drone Space Receives Certification for Commercial Drone Operations in Kenya

April 22, 2021
0
Business

Moving Average Indicator in Forex Trading – How Does It Work?

April 20, 2021
0
Business

All you need to know about VPNs

April 20, 2021
0
Business

Kenya’s online trading broker EGM Securities cleared to offer NSE derivatives

April 20, 2021
0
Business

Truecaller launches an enterprise solution for businesses to grow its revenue streams

April 15, 2021
0
Business

Mi Vida Leveraging Over 200 Years Real Estate Experience to Bring Affordable Housing to Kenya

April 13, 2021
0
Business

AppGallery touting operational support, data analytics, security & marketing to onboard local banking apps

April 7, 2021
0
Business

Uber & Mastercard extend digital payment partnership across the Middle East & Africa

April 7, 2021
0

ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Mate 50 Pro: Huawei wants to set new standards for the battery

April 23, 2021

The Perils of Digital Currency

April 22, 2021

Microsoft is working on a new Microsoft Store for Windows 10; finally.

April 22, 2021

Apple: Touch ID of new Magic Keyboard will only work with M1 Macs

April 22, 2021
zoom

Zoom Announces $100 Million Zoom Apps Fund for Developers to Build on its API

April 22, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: