MTN Uganda Chief Marketing Officer Isaac Nsereko and PostBank Uganda Ltd Managing Director Stephen Mukweli signed the agreement in the PostBank Ltd Boardroom in Kampala, opening up PostBank Ltd, to over one million MTN Mobile Money customers.

With over 974,000 MTN Mobile Money customers in the first year alone, MTN’s Mobile Money transfer service has become Uganda’s fastest-growing, non-tariff telecommunications value add service, making it a perfect product fit for PostBank Uganda Ltd as one of the fastest growing commercial banks in Uganda.

‘We are the preferred Bank for the mass market. Our network in over 57 districts served by both the Brick & Motar branches and Mobile Van services, Point of Sale terminals allows us to offer our customers the benefit of this Financial Services experience and expertise. MTN Mobile Money customers will be able to get convenient, personalized service from these service points. We will do our best to be the preferred Bank to our customers at all times.’ said Post Bank LTD Managing Director Stephen Mukweli.

PostBank Uganda Ltd Managing Director, Stephen Mukweli said the introduction of MTN Mobile Money at all its Thirty (30) branches across the country would boost the penetration of banking services in Uganda and will be complementary to PostBank Ltd’s other financial services which include the use of Mobile Vans which are a fully fledged bank on wheels where you can withdraw, deposit, transfer money, access loans. PostBank in this partnership seeks to provide reliable service to the rural MTN mobile clients.

‘We are very much aware of the challenges that our customers face in trying to decide where to do their day to day banking. The Financial services industry is very competitive in which many banks on the surface look very much the same. We hope that in evaluating us our customers will focus on our value proposition.’ Mukweli added.

MTN Uganda Chief Marketing Officer Isaac Nsereko said the partnership would enhance Post Bank’s portfolio with over one million potential customers.

“Since its launch in March last year, MTN Mobile Money has recorded transfers of more than UGX 590 billion, and close to one million registered users. We have reached the unbanked through the mobile phone, and today we bring our customers the added advantage of increased liquidity in Mobile Money through Post Bank (U) LTD,” Nsereko said.

“This partnership is for the benefit of our customers as well as the financial sector of Uganda. We commend Bank of Uganda for being open minded and highly appreciative of innovation and for letting others partake of this offering. Their approach to financial management has significantly increased access to financial services through MTN Mobile Money,” Mr. Nsereko said.

Mr. Nsereko further explained that the introduction of PostBank Uganda Ltd as an MTN Mobile Money agent would assure liquidity of service across the country where PostBank (U) Ltd branches are located.

MTN Mobile Money was launched in March 2009, and more than 1,300 MTN Mobile Money Service outlets have been opened up across Uganda, spreading transaction services into remote areas. Over 60% of transfer recipients are located in rural areas.

About the POSTBANK

PostBank Uganda (PBU) Limited was established in accordance with Communications Act of 1997. It was incorporated in February 1998 as a Limited Liability Company to take over operations of the former Post Office Savings Bank which has been in existence since 1926. PBU has it operations in 29 branches and 13 mobile banking locations spread across 57 districts countrywide. Visit: www.postbank.co.ug

About the MTN GROUP

Launched in 1994, the MTN Group is a multinational telecommunications group, operating in 21 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: "MTN". As at 30 September 2009, MTN recorded 108,4 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. The MTN Group is a global sponsor of the 2010 FIFA World Cup South Africa™ and has exclusive mobile content rights for Africa and the Middle East. Please visit www.mtn.com and www.mtnplay.com