Mobile Money steadily unseating banks

By Brenda Apili

With the telecoms sector having introduced the mobile money technology in Uganda, people feel much more secure with their money on the cellphone. Formerly opening an account in a bank was the only way to keep money but now mobile cellphone hand sets are slowly replacing the account in the bank.

As long as one has a mobile phone he has an account. The mobile phone accounts have eased the sending and receiving of money unlike commercial banks where it takes time. Industry

Read more ...