MAM Telecom Ltd., a Uganda-based financial infrastructure company, has secured a $250,000 grant from an anonymous South African businessman to develop technology aimed at addressing liquidity and settlement challenges in East Africa’s mobile-money and digital-payments markets.
The funding will help the company prepare for its initial launch in Uganda, covering regulatory licensing, compliance systems, technology development and recruitment of technical and operational staff, according to a statement released by the company on Oct. 8, 2026.
Founded by Milon Ahabwe Mutebile, MAM Telecom is developing infrastructure that enables mobile-money agents and other financial-service providers to access digital float while giving fintech companies and enterprises tools for settlement, reconciliation, reporting and application programming interface connectivity.
The company is positioning itself as a financial infrastructure provider rather than a consumer-facing digital wallet, seeking to connect participants across existing payment networks.
“Securing this grant is an important validation of that approach,” Mutebile said. The funding will help strengthen the company’s regulatory foundation and bring in critical talent as it moves from planning into execution.
Mobile-money services have become an important part of financial transactions across East Africa, but agents and payment providers can face challenges maintaining sufficient electronic float to meet customer demand. Fragmented liquidity management, delays in float resupply and limited visibility into settlement processes are among the gaps MAM Telecom says its platform is designed to address.
By providing digital-float access and centralised settlement infrastructure, the company aims to support the businesses operating behind everyday digital payments. Its platform is also being developed to provide real-time reporting and integration with other financial services through APIs.
The grant will also support risk-management and compliance systems, including preparations for anti-money-laundering and counter-terrorism-financing controls, know-your-customer procedures and transaction monitoring. The company has not disclosed the identity of the funder, respecting the investor’s request for anonymity.
MAM Telecom’s initial market is Uganda, with a longer-term plan to expand its infrastructure across East Africa. The company is pursuing a compliance-first approach, with regulatory licensing and operational readiness forming part of its preparations before scaling.
Alongside its infrastructure business, the company is developing MAM Fex, a cross-border remittance and foreign-exchange platform intended to run on the underlying technology.
The $250,000 grant provides capital for the company’s next development phase, although MAM Telecom has not disclosed a launch date, licensing status or detailed expansion timetable.
“We see this as the beginning of a much more intensive phase of execution,” Mutebile said. “Our priority is to build the regulatory, technical and operational foundations properly before scaling.”
For MAM Telecom, the next stage will involve translating its funding into a functioning platform capable of serving mobile-money agents, fintechs, enterprises and cross-border financial services as it prepares for a wider regional presence.
