MTN Mobile Money Uganda announces appointment of new Managing Director

MTN Mobile Money Uganda Limited, a 100% duly owned subsidiary of MTN Uganda Limited, is pleased to announce the appointment of Richard Yego as its Managing Director.

“We are delighted that Richard Yego joins the MTN family as the Managing Director for MTN Mobile Money Uganda. He brings with him a wealth of experience attained from his journey through the banking and digital financial services sector, which will be pivotal to the realization of the company’s strategy and vision of creating a modern connected world,” Wim Vanhelleputte, a member of the board of directors of MTN Mobile Money Uganda and the CEO of MTN Uganda, said.

Prior to his appointment at MTN, Richard served as the CEO of the Agent Banking Company of Uganda where he was responsible for the overall operations of the Joint Venture Entity of Uganda Bankers’ Association and Eclectics International.

In the same role, he supported the implementation and roll-out of an inter-operable Shared agent banking technology and agent network infrastructure across Uganda, a move which fast-tracked financial inclusion by ushering convenience in the uptake of digital financial Services among the banked, under-served and unbanked population.

Richard Yego, Managing Director MTN Mobile Money Uganda Limited.

With over 15 years of experience in the financial sector, occupying several senior roles, Richard boasts of a stellar track record in successfully steering disruption in the digital financial services space.

At MTN, Richard will deploy strategy to shape and direct the Mobile Financial Services business. He will provide strategic leadership in the use of technology innovatively to improve and automate the delivery of financial services. He will also harness strategic relationships to develop the financial and mobile money ecosystem.

Richard holds a bachelor’s degree in Economics from Makerere University bolstered by several other qualifications and certifications in Digital Financial services. His appointment takes effect on 1st February 2022, subject to regulatory approval.

Yego’s appointment comes after the formulation of MTN Mobile Money Uganda ltd. in accordance with the National Payments Systems Act 2020 which prescribed the separation of the financial services from the core telecom business.

 

MTN Increases Senkyu Points on MoMo Withdrawals & makes sending money free on the MoMo app.

  • MTN Uganda has increased Senkyu points for withdrawing mobile money at agent location to 15 points for every UGX 100 charged in withdrawal fees.
  • During this promotion, MTN MoMo customers will be able to send money to other MoMo customers for free when they use the MTN MoMo app. 
  • The MTN MoMo offer promotion which takes effect on 15th November will last two months.

 

MTN Mobile Money Ltd has increased the number of Senkyu points a customer gets to 15 points for every UGX 100 charged in MoMo withdrawal fees. The points are given on the withdrawal fees that the customer is charged i.e., for every 100/- a customer is charged they receive 15 Senkyu points. 

In addition, sending money between MTN MoMo customers on the MTN MoMo app has been made free, during the promotion that will go on till early 2022. 

MTN Senkyu is a customer loyalty initiative aimed at rewarding customers who use MTN services. Once a customer dial *141# and joins the Senkyu program, they start receiving points for using MTN services including loading airtime and bundles, making calls, sending messages, using data and MTN MoMo services such as sending money, making payments, depositing, and withdrawing at a mobile money agent. 

While making the announcement, Stephen Mutana, the Ag. Chief Executive Officer MTN Mobile Money Uganda Limited said the promotion’s objective MTN is to reward its customers who ardently use its services.

“As we draw closer to the end of the year, we want to recognize and appreciate our customers who have continuously used MTN services. That is why we want to reward them with loyalty points that can be used to enjoy more of those services,” Mutana explained. 

Mutana said the decision is informed by the increased person to person transactions over the last two years. 

According to recent statistics from Bank of Uganda, person to person transaction values have grown from UGX1.1trillion in January 2021 to UGX1.4 trillion in June 2021.

He further explained that the promotional offer serves to drive affordability of cashless transactions with the aim of boosting financial inclusion across the country.

“We at MTN believe that through initiatives such as this one, we can increase financial inclusion which is necessary because each and every single person deserves access to mobile financial services,” he noted. 

Mobile money is currently the biggest contributor to financial inclusion in the country, standing at 78% according to the Finscope survey of 2018. 

This promotion is yet another effort by MTN to drive affordability of mobile financial services for its customers following a reduction in withdrawal rates earlier in May this year. 

The new MTN Senkyu points on MoMo withdrawals are below.

Amount (UGX)  Withdrawing Fees from Agent (UGX) Current Senkyu Points New Senkyu Points
500 – 2,500 330 6 45
2,501 – 5,000 440 8 60
5,001 – 15,000 700 14 105
15,001 – 30,000 880 16 120
30,001 – 45,000 1,210 24 180
45,001 – 60,000 1,500 30 225
60,001 – 125,000 1,925 38 285
125,001 – 250,000 3,575 70 525
250,001 – 500,000 7,000 140 1,050
500,001 – 1,000,000 12,500 150 1,875
1,000,001 – 2,000,000 15,000 300 2,250
2,000,001 – 4,000,000 18,000 360 2,700
4,000,001 – 7,000,000 20,000 400 3,000

 

“Keep some MTN MoMo on your phones. It saves.”

  • In these times, it saves to keep some MTN MoMo to pay for products and services like airtime, voice and data bundles, Yaka, National Water, shopping and much more.
  • MTN customers are encouraged to keep some money on their phones from as low as UGX 500/- with MTN MoMo.
  • It saves and its safer to have some money on MTN MoMo for emergencies, especially in these times of the pandemic and curfew.
  • MTN MoMo is safe, affordable, convenient, and can save you when you need it the most.

MTN Uganda has today launched a campaign aimed at sensitizing customers on why it’s important to keep some mobile money with MTN MoMo and the associated benefits like the convenience of paying for products and services like airtime, voice and date bundles, Yaka electricity units, national water, school fees, shopping and much more.

In the campaign that will run under the theme, “Keep some Money on MTN MoMo, It saves”, MTN is encouraging customers to keep some money with MTN MoMo on their phones, because it is convenient, safe and could come to their rescue in emergency situations during these times of covid19 and the curfews that they live under as a result.

Most Ugandans already know MTN MoMo and how it works. Many more are already using it for sending and receiving money. However, some continue to use cash for many of their daily needs. Although it is inconveniencing, some customers would rather walk to the shop to buy airtime, bundles or MBs, and even to pay for their utility bills, yet they can conveniently use MTN MoMo from wherever they are. In the end however, customers wish they had mobile money on the phones more so in emergency situations.

“This new campaign is about encouraging our customers to keep some MTN MoMo on their phones, because it saves,” said Stephen Mutana, the General Manager, Mobile Financial Services at MTN Uganda.

“You don’t have to deposit all your money, keep some on MTN MoMo to use it when you need it most. For example, if you have 5,000/-, you can deposit 2,000/- on your MTN MoMo account. This 2,000/- will come in handy when you need to buy airtime or data bundles at night when the shop is closed or if your power goes off at night and you need to buy Yaka units”, Mr. Mutana advised.

MTN MoMo can do everything and even more than physical cash. With MTN MoMo, customers can buy airtime, voice and data bundles, and can also conveniently pay for shopping at the supermarket, pay for fuel, and much more conveniently using their phone, anytime, anywhere. Even for school fees, MTN MoMo customers no longer need to queue at the bank for hours. Customers can deposit as low as 500/- on their MTN MoMo account and dial *165# or use the MyMTN app for safe, reliable and convenient transactions.

Relatedly, Stephen also cautioned MTN MoMo customers against sharing their PINs. “Keep your MTN MoMo PIN safe. Don’t share it with anyone. Nobody can access money on your phone unless you give them your PIN number which only you should know”, he concluded.

MTN MoMo is safe, reliable and convenient.

 

About MTN Uganda

Launched in 1998, MTN Uganda is the leading communications operator in Uganda, offering Mobile and Fixed telecommunications, Mobile Money Services and Internet Service Provisioning. As at 31st December 2018, MTN Uganda recorded 11.2 million subscribers across Uganda. Visit us at www.mtn.co.ug or follow us on

www.youtube.com/mtnug and www.twitter.com/mtnug or www.twitter.com/mtnugpro

for assistance.

About the MTN Group

Launched in 1994, the MTN Group is a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our 240 million customers in 21 countries in Africa and the Middle East. We are inspired by our belief that everyone deserves the benefits of a modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code “MTN”. We are pursuing our BRIGHT strategy with a major focus on growth in data, fintech and digital businesses.

For more information, please contact:

MTN Uganda Press Office: mediadesk.ug@mtn.com

Rhona Arinaitwe: Rhona.Arinaitwe@mtn.com or 077 212 3067

Emmy Olaki: emmy.olaki@tbwa-uganda.com or 078 260 5997

MTN customers can now send any amount of money free of charge using MTN MoMo.

  • For 30-days, customers can now send any amount of Mobile Money every day to other MTN MoMo customers free of charge.
  • The offer comes alongside a day-time data bundle that is enabling Ugandans stay on-line and work from home. Customers get 1GB of data at just Ushs 2,000 valid between 9am and 5pm.
  • These offers are designed to reduce the risk of transmission by avoiding the physical exchange of currency notes.
  • MTN is also supporting government’s sensitization drive by availing UGX 500 million in cash and free media channel space (radio, tv, social media, SMS, call centre IVR platform) to promote the Ministry of Health’s sensitization messages.
  • To facilitate the flow of information, MTN Uganda has zero rated Ministry of Health and World Health Organization (WHO) websites, so the public can access information about the virus at no charge. They include; who.int , www.health.go.ug and www.covid19.gou.go.ug

 

MTN Uganda has further enhanced its Mobile Money offer to allow Ugandans to now send any amount of Mobile Money, at no cost for the next 30 days in a move to minimize the physical exchange of paper money.

The offer is meant to reduce the risk of transmission of covid-19 that has paralysed daily life across the world.

Alongside this offer, the company also launched a data bundle that is enabling customers to work from home. Dubbed ‘Work from home’, the data bundle is meant to promote the concept of ‘social distancing’ while reducing the anticipated negative impact that limited movement and contact between people, may have on both the economic and social fabric of our society.

The ‘work from home’ data bundle can be accessed through Mobile Money by dialing *165*19# or through the MyMTN app.

“This is an extraordinary time, a time when as MTN we need to stand up and be counted on to do the right thing,” said Wim Vanhelleputte, the MTN Uganda CEO.

“MTN is committed to continue working with the government, to reduce the impact and disruption that this pandemic is having on the lives of Ugandans. Working closely with the Ministry of Health, MTN Uganda has committed its media assets including radio, SMS, social media, call centre and continues to implement various precautionary measures to drive awareness among the public to protect themselves,” Wim further commented.

MTN Uganda also made Ushs 500 million available, to facilitate various government endeavours to equip and facilitate various efforts to prevent, manage and curb the spread of covid 19 in Uganda.

Its also now free to check for covid 19 updates at www.who.int , www.health.go.ug and www.covid19.gou.go.ug. Customers will not be charged for browsing these sites.