Airtel Uganda Completes Airtel Money Business Transfer to Airtel Mobile Commerce Uganda Limited

Written by on June 21, 2021

Kampala, 21 st June 2021:

Airtel Uganda, the Smartphone Network with the widest
4G coverage in Uganda, has today announced the separation of Airtel Money from
its Telecom Business. Technically, the Airtel Money Business has been transferred
to Airtel's affiliate, Airtel Mobile Commerce Uganda Limited ("AMC Uganda").
The business separation complies with a new law – the National Payment Systems
(NPS) Act, 2020 – passed on 4 th September 2020, and the NPS Regulations
gazetted on 5th March, 2021. Pursuant to Section 9 of the Act, the Bank of Uganda,
on 24 th May, 2021, announced the issuance of the following Licences to Airtel Mobile
Commerce Uganda Limited:
(1) A Payment Service Provider (Class A) Licence, Number PSP 01/21, which
authorizes AMC Uganda to provide Electronic (Airtel) Money Services;
(2) A Payment Systems Operator Licence – (Electronic Money Systems), Number
PSO 01/21, which authorizes AMC Uganda to operate a Payment (Airtel Money)
As a result, Airtel Mobile Commerce will now conduct all Airtel Money Services in
Uganda in partnership with and through the licensed telecommunications network of
Airtel Uganda. On the other hand, Airtel Uganda will focus on the operation of
telecommunication infrastructure and the provision of telecommunications services
to its network subscribers and licensed operators.
"Nothing changes from a customer perspective. Going forward, our affiliate
company, Airtel Mobile Commerce Uganda Ltd, will provide Airtel Money Services to
the registered Subscribers of Airtel Uganda Ltd, on the same terms and conditions.
The new company is regulated and supervised by Bank of Uganda," Mr Manoj
Murali, the Managing Director of Airtel Uganda, said while announcing the
business separation.
As a result of the separation, the Airtel Money Accounts and related information will
be migrated or shared with the new company, with the same level of safety and
protection, and in compliance with the privacy and data protection laws of Uganda
and the directives of Bank of Uganda and Uganda Communications Commission.

The customer deposits are safe, secure and kept in reputable commercial banks
with the same level of protection as other bank accounts. AMC Uganda and the
Commercial Banks holding the customers' funds are licensed, regulated and
supervised by the Bank of Uganda," Mr Manoj, noted.
Customers will continue to access the Airtel Money Service via short code *185# or
*165# or My Airtel App, as well as our touch points and support system including;
Airtel Money Agents, Service Centers and Airtel Outlets.

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