You could start a bank today anywhere without having so much paper work, ATM machines, Liquid cash or approval from Bank of Uganda. All you need is a Kiosk and some little float on your account with MTN or Airtel Uganda mobile networks.
To be a mobile money agent in Uganda, there’re a number of requirements you need to meet. For instance;
- You must be a registered as a LIMITED company that has existed for a period not less than one year.
- Must have physical permanent or Semi-Permanent premises from which to operate, Counter Layout.
- Must have three months Company Bank Statement
- Existing Business Turnover of at least Ushs 5 Million per Month.
- Registered Board Resolution to start MM Agency Business.
among several other requirements you can find on Dignited Answers. Both MTN and Airtel seem to have similar commission fees with very subtle differences. MTN however, won’t give you commission for transactions less than Ugx 5,000 while Airtel gives you about Ugx 150. Also Airtel supports transactions as much as Ugx 5,000,000 well as MTN ends at Ugx 4,000,000. Below is a complete chart of MTN and Airtel Money agent commission fees structures.
MTN Uganda Mobile money agent commission fees structure
|MTN Uganda Mobile Money Agent Commission fees|
|Transaction Tiers(UGX)||Transaction Type and Agent Fees (UGX)|
|Deposit||Withdraw cash from|
Airtel Uganda Warid Pesa/Airtel money agent commission fees structure
|Airtel Uganda Airtel Money/Warid Pesa Agent Commission fees|
|Transaction Tiers||Cash In (Deposit)||Cash Out(Withdraw)|