Airtel Uganda reduces mobile money fees by 79 per cent

Airtel Uganda recently announced a deduction in their sending and withdraws fess on their mobile money service.

This was during a press Conference at the Airtel Uganda Head office in Kampala, in which the company’s Chief Commercial Officer, Amit Kapur said this was part of their efforts to ensure financial inclusion.

“Airtel Uganda has taken big strides towards financial inclusion through giving Airtel money, the most affordable rates. Starting October 31, our Airtel money customers will enjoy 79 per cent and 60 per cent reduction on withdrawal and person to person transfer rates respectively, making it the most competitive rate on the market”, said Kapur.

Airtel Uganda officials said, the move is intended to draw more customers to use Airtel money services but also ease access to affordable and basic financial services across the country.The massive reductions will apply to all transactions between one million and seven million shillings.

The development comes at a time when banking agents are slowly eating up on the market share of telecom companies that had controlled the financial sector through mobile money. A year after its introduction, agent banking transactions total to shs30 billion daily, according to the Agent Banking Company of Uganda and a market share of almost 20 per cent in the financial industry. A number of people are now using bank agents to withdraw and deposit their money as compared to mobile money accounts following the introduction of the mobile money tax in 2018.

Airtel was launched in Uganda in June 2010 and is Uganda’s most innovative mobile phone operator, which has introduced many “firsts” in the telecommunications sector.
As a mobile operator Airtel introduced affordable communication products and services that have transformed millions of Ugandans and businesses. In May 2013, Airtel Uganda achieved a great success story having acquired Warid Telecom and growing to a family of over 8.9 Million customers and being the 2nd largest telecom in Uganda.

CELTEL Uganda was the first Telecommunication Company in Uganda that was introduced in 1995 and transformed telephony by connecting people with the use of a mobile phone.

In July 2007, CELTEL Uganda changed its brand name to ZAIN Uganda that was eventually changed to Airtel Uganda in 2010 thus joining a family of over 361 million customers across its operations at the end of May 2016.