Friday, 16 October 2009

UGANDA: MTN to Start Global Mobile Money Transfer

Kampala — MTN is to start international money transfer services, the chief marketing officer, Isaac Nsereko, has said.

"We are going global as well," said Nsereko in a telephone interview.

The development not only shifts the competition terrain to a geographical level, but ushers the telecoms into one of the most capitalised industries, international remittances.

Uganda's remittances from abroad were $724m in 2008, down from $786m in 2007 as a result of the global economic crisis. Read more

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