The Ministry of Trade, Industry and Cooperatives has commenced discussions with MTN Uganda on how to fully digitalize Uganda’s businesses with a focus on streamlining the operations of cooperatives mainly the Savings, Credit Cooperative Organizations (SACCOs).
During a meeting that took place in the office of the Minister of Trade, Industry and Cooperatives Hon. Sanjay Tanna, Sylvia Mulinge, the CEO MTN Uganda said they are interested in working with the Ministry of Trade to support cooperatives especially the SACCOs to embrace the use of technology especially mobile money to conduct transactions. “Unlike the paper-heavy manual transactions, mobile money eases traceability of funds and promotes transparency”, said Mulinge
Minister Tanna informed the MTN team that there is a lot of money that government disburses to cooperatives especially the PDM and Emyooga SACCOs across the country that MTN can tap into and be channeled through the mobile money network.
Tanna said government is very intentional on ensuring financial inclusion which is one of the ten pillars of National Development Plan (NDP IV). He implored MTN Uganda to target the small traders, market vendors and startups to ensure that they embrace technology in transacting business and be included in the mobile money system. These could be offered Mo-cash loans to grow their businesses. He implored them to look into the issue of high charges of transacting with mobile money that makes people resort to the banks.
He commended the use of electronic processes in the disbursement of funds saying it is one of the easiest ways of tracking the funds to ensure that the money reaches the end users.
On the issue of the new trade order that was aimed at clearing street vendors and unauthorized kiosks from roadsides, pavements, and drainage channels to reduce urban congestion, Tanna advised MTN to support its agents that were affected by the enforcements and resettle them in shops to target a wider market.
He implored MTN to join government in providing financial literacy to the small businesses by training them in book keeping and other areas. MTN pledged to work closely with the ministry of trade to Uganda’s journey towards having a cashless economy.
