Kampala, Uganda: The Central Bank of Uganda (BoU) has forged a landmark partnership with MTN MoMo in a bid to accelerate financial inclusion and foster sustainable economic growth, BoU Governor Michael Atingi-Ego has revealed.
The high-level meeting held on Wednesday, September 3, 2025, brought together MTN Uganda CEO Sylvia Mulinge and MTN MoMo CEO Richard Yego, reaffirming a shared commitment to widening access to affordable financial services, especially for Uganda’s rural and underserved populations.
BoU emphasized that with over 81% of Ugandans already accessing financial services, most through mobile money, the partnership with MTN is critical in lowering transaction costs, boosting trust in digital systems, and driving inclusive economic transformation.
“This meeting represents a shift from reactive regulation to proactive collaboration,” Dr. Tumubweinee Twinemanzi, BoU’s Executive Director of National Payment Systems, explained. “We are determined to secure financial stability while encouraging innovation that reaches millions of Ugandans.”
MTN MoMo’s extensive agent network and diversified services—ranging from MoMo Advance loans to savings and bill payments—were highlighted as vital tools in delivering on this vision. The collaboration will also explore new innovations such as digitizing government payments, enabling e-commerce, and expanding digital solutions for businesses.
The engagement signals BoU’s top-level commitment to not only regulate but also partner with fintech operators to grow a resilient, trusted, and inclusive financial ecosystem.
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