Uganda’s Finance Minister Maria Kiwanuka says the country was home to 18.5 million mobile money users by the end of 2014, with transactions totalling more than UGX18 trillion (USD6.2 billion) being carried out in twelve months. According to a report from The Monitor, there are now three times as many mobile banking users in Uganda than traditional bank customers. Figures from TeleGeography’s GlobalComms Database show that Uganda was home to some 22.6 million cellular subscribers at the end of September 2014, with the market dominated by the three largest players: MTN, Airtel and Uganda Telecom Ltd (UTL).
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