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MTN says new Mobile Money tax will stabilise its business

Mobile money service provider, MTN, says the 0.5% levy on withdrawal of cash by subscribers as passed by parliament yesterday should now support stability of their business which had dipped by nearly 30%.

Available data indicates that the entire telecom sector lead by MTN conveys a record 147 Billion shillings on mobile commerce transactions each day.

MTN’s Chief Executive Officer, Wim Vanhelleputte, while speaking at a news conference here in Kampala also announced that over the next 10 year’s it will enhance on digitization of Uganda’s cash economy, strengthen data usage and consider selling of shares to local institutional investors.

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