ONLINE UGANDA MTN Uganda introduces overdraft facility 4 days ago Iwo Bulski Post Views: 38 Africa’s mobile-money sector remains the most active of any region in the world, according to GSM Association (GSMA), an umbrella body representing the interests of players in the telecommunications industry. The report shows that registered mobile money accounts in Africa stood at slightly over half a billion in 2020, a 12 percentage point growth from the previous year. The value of transactions hit $495 billion, up 23 percentage points. East Africa accounts for the bulk of Africa’s mobile money transactions, followed by West Africa. The GSMA report shows that the value of transactions in West Africa had the highest growth after increasing by 46 percentage points to $178 billion (the second highest value after East Africa’s). Fundamentally, mobile money enables users to send and receive money, as well as to pay utility bills — but in advanced situations like it is across Africa, the wallet turns subscribers’ phone numbers into a sort of proxy for bank accounts. As it grows, mobile money has come to be a launchpad for digital lenders, who use customers’ mobile money transaction history to determine the amount of instant credit to extend to borrowers — monies that are then directly deposited into customers’ mobile money wallets. MTN Uganda’s mobile overdraft credit Innovative products based on mobile money include the newly launched MoMoAdvance, an overdraft loan by MTN Uganda, the country’s biggest telco, and a subsidiary of the MTN Group — whose other affiliated companies have operations in southern, west and central regions of Africa. MoMoAdvance was launched following a pilot program that started in late 2020, and it allows MTN’s customers to overdraw on its MoMo (mobile money) wallet. Users will be charged an access fee of 2.75% of the amount borrowed, and a daily interest of 0.5% on the outstanding balance for a maximum of 45 days. Source: techcrunch.com Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: credit, mobile money, Uganda Continue Reading Previous Yggdrasil and Pragmatic Play make inroads into the African Gambling MarketNext South African Police Launch Investigation into Alleged Crypto Fraud More Stories ONLINE SOUTH AFRICA Why Playtech is Still South Africa’s Favorite Slots Provider for 2022￼ 5 hours ago Iwo Bulski GHANA ONLINE Affilka by SOFTSWISS Launches a New Affiliate Program with JustBit.io 11 hours ago Samuel ONLINE SOUTH AFRICA Online gambling is terrible news for SA’s youth 3 days ago Samuel ONLINE SOUTH AFRICA South African Police Launch Investigation into Alleged Crypto Fraud 4 days ago Iwo Bulski ONLINE WORLD NEWS Yggdrasil and Pragmatic Play make inroads into the African Gambling Market 4 days ago Samuel ONLINE WORLD NEWS Scientific Games expands US platform with exclusive Wazdan deal 5 days ago Iwo Bulski HOT NEWS NIGERIA ONLINE Flutterwave Partner AfroSport Network to Broadcast AFCON 5 days ago Adeleye Awakan ONLINE WORLD NEWS Playtech partners with Canadian betting firm NorthStar Gaming 5 days ago Szarlot ONLINE WORLD NEWS OddsMatrix breaks EUR 100 million mark per month in Q4 2021 6 days ago Szarlot ONLINE SOUTH AFRICA Industries that you should keep an eye on in South Africa 6 days ago Samuel ONLINE WORLD NEWS Playtech delays vote on Aristocrat 2 weeks ago Szarlot KENYA ONLINE Check Out These Great Games Set in Africa 2 weeks ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.