EzeeMoney Uganda a subsidiary of EzeeMoney Africa, is the latest mobile money service provider, to officially open up business in Uganda, The company seeks to carry out the business of electronic money payments and transfers in Africa that aiming at the unbanked, low-income and poor people in the society.
According to the CEO Zerubabel Junior Kwebiiha, “Mobile money in essence has a penetration of about 30 percent if we factor in the populations holding duo sim-card phones and those with two phones registered on different mobile networks. EzeeMoney seeks to address the remaining percentage by partnering with financial institutions and various service providers”.
The service is targeted in centers where people can use Ezee Money to make cashless payments for public transport, school fees, taxes, city council authorities and insurance among others.
According to a recent FinScope survey conducted in 2009 indicated that about 70 per cent of Ugandans have no access to financial services.
Source: the ceomagazine