MTN explains what mobile money split means
Following the enactment of the national payment systems act in 2020, Bank of Uganda has taken over the regulation of mobile money and has now awarded telecom companies MTN and Airtel licenses to operate.
The act also required a separation of telecommunication services from mobile money which culminated in the formation of subsidiaries under which the telecoms will house the mobile money segment.
MTN will operate its mobile money segment through MTN Mobile money Uganda Limited while Airtel has formed Airtel Mobile Commerce Uganda Limited.
