Airtel Money users to benefit from Airtel Uganda – KCB bank partnership

Airtel Money users to benefit from Airtel Uganda-KCB partnership

Airtel Uganda customers to benefit from the telecommunication company’s merger with KCB Bank.

Telecommunication company Airtel chose KCB Bank as its trust account holder for Airtel Money mobile financial services and is aimed at enabling the lender to receive even cheaper deposits.

Due to this partnership, Airtel customers using mobile money will now be in position to attain unsecured mobile loans, regular savings and fixed deposit savings accounts.

The above shall therefore enable customers to acquire loans that go as low as Ugandan shillings 300 as well as being in position to attain interest on their every savings that goes as high as 9 per cent.

Mr. Manoj Murali, the Managing Director Airtel Uganda says he is sure that this partnership with KCB shall deliver affordable, safe and secure financial services which he benefit the lives of Ugandans greatly.

Additionally, he says that a year-on-year surge in usage of feature and smart mobile phones has been observed in Uganda and this is relative to the number of people that use mobile money services to either send money to loved ones or for business transactions.

“Today, the mobile phone is more than just a tool for communication. It is a source of information and a one-stop center for financial services,” said the Managing Director.

In line to the above, Mr. Amit Kaput the Airtel Uganda Chief Commerical Officer says Airtel Uganda is proud for being in position to facilitate financial inclusion by ensuring extension of reliable, safe and secure financial services to people of all walks of life.

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“Therefore, the partnership with KCB Bank Uganda will not only enable us enhance our finance services to allow customers access customizable and convenient banking services but also cement our position as The Smartphone Network with widely accessible affordable and convenient mobile solutions for our customers,” said Mr. Kaput.

Recently, Bank of Uganda issued financial service operator licences for both Airtel Money and MTN Mobile Money which are expected to trade as Airtel Mobile Commerce Uganda and MTN Mobile Money Uganda respectively in line with the National Payment Systems Act, 2020.

In the end, the telecommunications Mobile Money businesses were therefore placed under Bank of Uganda while their Communication services remained under Uganda Communications Commission.

At this time, MTN was already working hand in hand with NCBA Bank through Mokash and now, Airtel Money has partnered with KBC Bank under it’s Mobile Money services that are aimed at being beneficial for its customers.

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