With so many innovations surrounding mobile and technology in Sub Saharan Africa we see here an example of two industry players namely MTN Uganda and Standard Chartered coming together and releasing a mobile wallet platform to help the transactions between the Bank and MTN Mobile Money.
With the likes of MPESA of Kenya showing much more steadfast innovation around mobile money technology it has propelled other companies within the same field around Africa borrow a leaf and implement the best way suited for their own market.
Speaking at the launch, the outgoing Standard Chartered Bank CEO, Herman Kasekende commended the collaboration with MTN saying it will enhance the Bank’s ability to extend its world-class financial services countrywide.
“One of our strategic aspirations as Standard Chartered Bank is to be the Main Digital Bank for our customers. The launch of the mobile money solution today reaffirms this commitment and is one of the many digital enhancements that have been rolled out in the past year and an indicator of many more innovations to come,” he said.
MTN Mobile money has enlarged its foot print across Uganda, spreading to as deep as the most remote villages.
In the recent Uganda economic update, the World Bank underscored that “Mobile money is contributing to rapid and widespread access of financial services in Uganda.”