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Browsing: Mobile money in Uganda
East Africa is a global leader of mobile money with the highest penetration of mobile money in the world according to a report by the African Union in collaboration with the Organisation for Economic Corporation and Development.
The joint report is titled; Africa’s Development Dynamics’ authored by the African Union (AU) in collaboration with the Organisation for Economic Corporation and Development.
Mobile money services are provided by telecommunication companies and supported by a network of licensed agents that allows registered users to deposit and withdraw cash in a virtual wallet.
According to data from the report, for every 1,000 adults, the East Africa region has 1,106 registered mobile money accounts compared to 600 for the whole of Africa, 533 and 245 for Asia, Latin America and the Caribbean respectively.
The penetration is higher in the region with most adults subscribers owning one or more mobile money accounts.
According to the …