MTN Mobile Money Uganda Limited

MTN Mobile Money (MTN MoMo) is a secure electronic money service that enables MTN customers to perform financial transactions using their mobile phones. It is operated by MTN Mobile Money Uganda Limited, a 100% subsidiary of MTN Uganda.

MTN Mobile Money Uganda Limited was established as a separate entity in 2021 to comply with the National Payment Systems Act, 2020, which required telecom companies to separate their mobile money businesses from their telecommunications services. This move was aimed at enhancing regulatory oversight and ensuring the safety of customer funds.

As a subsidiary of MTN Uganda, MTN Mobile Money (MTN MoMo) has revolutionized financial services in Uganda by providing accessible mobile financial solutions to millions of Ugandans, many of whom were previously unbanked. The service allows users to send and receive money, pay bills, save, borrow, and perform various financial transactions using their mobile phones.

MTN MoMo is regulated by the Bank of Uganda under the National Payment Systems Act, ensuring that it adheres to strict financial regulations and customer protection standards.