Uganda Annual Monitor 2016

Uganda Annual Monitor 2016

Wed, 09/20/2017 - 12:53 -- anna.ferracuti
Monitor

Uganda started the journey from a cash-dominated economy to a digital-based economy in 2009. The country is emerging as a strong performer in digital financial services (DFS). Two major mobile network operators (MNOs) dominate the market alongside active third-party providers. In 2016, most active customers used one or more ‘second-generation services,’ such as digital savings or lending products. While rural Ugandans are still half as likely to use a mobile phone, the growth rate parallels that of urban users—about 3% per year. New agency banking regulations offer a fresh opportunity for financial institutions to grow their client base.

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Practice Area: 
Inclusive Finance
Document Date: 
Wed, 09/20/2017
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