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The case of Mobile Money innovation in Uganda

The case of Mobile Money innovation in Uganda

Undeniably, a lot has been said as well as written about mobile money. However, it seems there is still some unfinished business related to the topic of mobile money. This unfinished business explains why there is still an ongoing debate about the effect of mobile money on an economy, in this case the economy of Uganda. I found this debate a very intriguing one and I got tempted to contribute to it, particularly from the perspective of inclusiveness and poverty reduction. I would like to rebuff the line of thinking that mobile money has adverse effects on the economy and instead reiterate the counter argument that mobile money has already been playing significant roles, which are quite relevant in the quest for economic transformation and mass poverty reduction.

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Trade, Poverty and Pencils

Trade, Poverty and Pencils

At the time of writing this piece, 13 July 2017, the Great Lakes Summit will be taking place in Munyonyo for two days. According to the website, Kampala will play host to a gathering of politicians, businesses and pro-market advocates from Europe, East Africa and beyond. The summit will explore the vast opportunities for greater trade and investment in the region: and make the ethical case for free trade as a means for poverty alleviation, conflict resolution and social justice”

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The Regulatory Tweaks That Will Spring Refugees in Uganda To Economic Inclusion

The Regulatory Tweaks That Will Spring Refugees in Uganda To Economic Inclusion

Uganda is home to 1.2 million refugees, with more than 800,000 refugees entering the country since July 2016. Most refugees this year come from South Sudan and others have come from the neighbouring conflict-affected countries including the Democratic Republic of Congo, Rwanda, Burundi and Somalia.

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The 2017/18 Budget: The Financial Inclusion Challenge

The 2017/18 Budget: The Financial Inclusion Challenge

Once again it is that time of year when the country takes stock of the performance of the preceding year. This year is no different. As I write this article, it is just two days away from the budget speech. Having read through the background to the budget, I have a few thoughts to pen down on the implications of the current budget and future economic projections on financial inclusion. Before we dive into the details the article we need to first unpack this term financial inclusion if we are to do justice to this discourse.

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THE MOBILE DEBT TRAP: The Lion waiting to Pounce on its Prey

THE MOBILE DEBT TRAP: The Lion waiting to Pounce on its Prey

Mukasa is a small holder farmer in Luwero, a district in Central Uganda. Mucks and his family of 7 live off his one acre maize farm. He is a subsistence farmer who mainly grows maize to feed his household. Out of the 20 sacks of maize harvested from his farm, Mukasa only sells 2 sacks at the local market. From these two sacks, He gets an average income of UGX 120,000 (US$ 35) per month.However, Mukasa does not have a regular and stable income due to the uncertainties associated with subsistence agriculture.

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Customer Satisfaction and Needs Assessment on Uganda’s Insurance Sector

Customer Satisfaction and Needs Assessment on Uganda’s Insurance Sector

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    This survey was commissioned by the Financial Sector Deepening Uganda (FSDU) on behalf of Uganda Insurers Association (UIA). The survey was implemented by Ipso was conducted within the major towns of the four regions of Uganda.

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    Bitcoin: What you need to know

    Bitcoin: What you need to know

    For the last few months I’ve attended several conferences discussing various aspects of the financial services sector from product innovation to financial inclusion. The one thing that has carried over from country to country and topic to topic is the inevitable moment when the coolest person in the room will mention that they’re currently reading up on the next big thing. Bitcoin and Blockchain. This technology is going to change everything. It will upturn business models and the internet will finally be leveraged for change and life will be all rainbows and ice-cream-gluten free at that.

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    The tip of Uganda’s data iceberg

    The tip of Uganda’s data iceberg

    Faith owns a small fruit-selling business in Uganda. Like most small business owners in Uganda, Faith started her enterprise with her own income and lacks access to finance to grow beyond the few fruit stalls she owns. She doesn’t keep full financial records and lives most of herlife informally and in cash, but has started using mobile money to make payments to the truck driver that delivers the fruit to the market and to receive payments from her customers. Faith, like Gimli Roberts from our first blog post, lacks access to financial services that support and improve their livelihoods.

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    Opportunities to finance education: Low fee private schools in Uganda

    Opportunities to finance education: Low fee private schools in Uganda

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      CapitalPlus Exchange (CapPlus) prepared this analysis for financial institutions in Kampala to provide insights on the market opportunity represented by low-fee private schools.

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      Agency Banking in Uganda An Assessment of the Potential Challenges and Opportunities

      Agency Banking in Uganda An Assessment of the Potential Challenges and Opportunities

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        FSD Uganda is an independent, not for profit company. We support innovation, conduct research and help promote and improve policy, laws and regulation that shape the financial sector.

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        Quick! Let’s Triple The Number Of Bank Accounts In Uganda

        Quick! Let’s Triple The Number Of Bank Accounts In Uganda

        I had a call from the village on Monday. I needed to make a deposit into the farm manager’s account urgently in order to allow him pay the vet. It was 3.45pm, I was busy, and had a packed social evening planned. I just couldn’t make it to my bank (to withdraw the money), then run across to his (to deposit the same) in time.

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        Lessons from the Great Fire of London – Why insurance matters

        Lessons from the Great Fire of London – Why insurance matters

        Early on Sunday morning September2nd, a fire broke out at Thomas Farriner’s bakery in Pudding Lane in1666 London, at the time, Europe’s largest city. After a couple of rainy summers, a drought had set in since November 1665. What could have been an isolated incident of fire destroying property, eventually led to 4 days of destruction across the narrow streets of London. The only reprieve came in the form of large-scale demolitions of property to prevent the fire from spreading any further than it already had.

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        Agency Banking – a shot in the arm for Uganda’s financial sector?

        Agency Banking – a shot in the arm for Uganda’s financial sector?

        Banks and other financial sector players in Uganda await the issuance of the Agency Banking regulations in growing anticipation. Their issuance will allow for the extension of the provision of basic financial transactions to your local super market, hardware shop or pharmacy. In this way, banks should offer more convenient, flexible and accessible account access for both new and existing customers.

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        Digital systems can improve traditional banking methods

        Digital systems can improve traditional banking methods

        “M-Shwari hits the 10 million customer mark”- we’ve all seen the articles and blogs posts about this innovative Safaricom-Commercial Bank ofAfrica (CBA) product that allows mobile money users to remotely open bank accounts, earn interest on their savings and access credit instantly. We’ve seen traditional financial institutions rushing to make strategic partnerships with mobile network operators, in an effort to replicate this success.

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        Digital Credit is not always good for financial inclusion

        Digital Credit is not always good for financial inclusion

        The latest product from a combination of a bank and a mobile network operator (MNO) is MoKash. It could be “the next big thing”. But before anyone gets too excited about the benefits, we should take a hard look at lessons from Kenya. Kenya is where M-Shwari (a predecessor to MoKash) started and has really taken off.

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        Car Wash Sundays: A communal approach to health insurance

        Car Wash Sundays: A communal approach to health insurance

        The car wash ends with about 15million shillings raised and a relieved family that could afford to take their daughter, Rita, to India for medical treatment. This was the only option for her single mother to raise funds to treat her after using up what little savings she had and selling off her house. Unfortunately, this situation is all too common in Kampala: a family going to friends and family when their heal this in jeopardy and their finances aren’t able to support them. Every Sunday it seems we hear about yet another Kampala car wash organized to help a family.It’s a wonder there aren’t only spotless cars in the city of Seven hills!

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