MTN Uganda has been having trouble renewing their license fee which expired in October 2018. Recent reports show they are set to pay close to $118 million (UGX 438 billion) for a 10-year license, which comes with a number of stipends including selling a 20% stake of it’ shares to National social security fund (NSSF). Could this be the reason why MTN is rolling out a new mobile money tariff rates with a 2 days notice? Well, that’s a question we all can’t answer today but will be left to ponder upon with.
The new rates are set to be effective on Wednesday 10th May and there is a notable increase in the sending, withdraws charges and payments fees. The low transaction rate has remained the same across the various different services provided with changes starting in the range of 2501-5000.
The new MTN Mobile Money tariff rates are as follows
The commissions for the mobile agent are still the same given no changes have been made. Mobile money has greatly influenced the growth of financial inclusion by removing barriers to hard to reach places which has no access to formal financial services.
