How much is a mobile money line in Uganda?

Paying a monthly rental fee of at least UGX 50,000/= for the Mobile Money line. Income is in the form of a percentage commission earned on each transaction and is paid at the end of the month.

How much do I need to start a mobile money business?

How much money do you need to start an MTN MoMo business? There is a minimum capital requirement that is expected from a prospective MTN Mobile Money Ghana agent. At GH¢ 4,000 is the required minimum amount of money you are required to have to become an agent.

How much is MTN agent line in Uganda?

MTN Mobile Money Agents can now get MTN Xtra Float worth UGX 50,000, 100,000 and 250,000 at a fee of UGX 300.

How do I become a MTN Mobile Money agent?

How to register MTN mobile money

  1. You must own a registered limited company or its equivalent.
  2. You must fill in and submit a form known as the Agent Recruitment Form.
  3. You must fill in and submit a form known as the Agent Account Handler Form.
  4. You must meet the minimum Merchant/Agent code of ethics requirements.
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How can I become a Airtel Money agent in Uganda?

Requirements to Become an Airtel Mobile Money Agent

  1. Proof of residence.
  2. Recommendation letter from LC1.
  3. Passport size photo of the applicant.
  4. Subscriber registration form.
  5. Trading licenses.
  6. Subagent application and registration forms.
  7. Startup capital of Ush 2,000,000.

Is Mobile Money profitable?

With potential direct revenue from mobile money accounting for more than 20% of total business and cash flow margins of over 15%, mobile money can be a healthy cash generator for operators already investing heavy CAPEX in last generation data deployments, and can also help to maintain loyalty and efficiency on the …

What is MoMo pay?

MoMo pay is a service that allows merchants receive payments and services using MTN Mobile Money. It is however not limited to merchants only as customers too, can use it to pay for the same goods and services whose payment is received by the merchants.

What is MTN MoMo agent?

MoMo is an acronym for Mobile Money. MoMo services allow registered agents to perform transactions for customers. This service allows cash transfers to people who do not have a bank account. Simply put, Agents carry out cash withdrawal for customers without an ATM card or POS machines.

How do I become a MoMo agent?

Requirements for MoMo Agents

  1. Have an existing business or willing to invest in agency business.
  2. Have a Brick & Mortar/Immovable retail shop e.g. Pharmacy Pop & Mom Shop located in high foot traffic.
  3. Viable means of identification (National ID, Driver’s License, International passport or Voters card).
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What is MTN MoMo advance?

What is MoMo Advance? This is a service that allows qualifying MTN Mobile Money customers to complete their transactions when they have insufficient funds in their MTN Mobile Money account.

How can I convert my airtime to money?

You can convert airtime to cash online in Nigeria with They payout either via your wallet or via your bank account when you sell airtime to them. They convert MTN, Airtel, Glo and 9mobile and pay you 80% while they take a 20% cut.

How much money can MTN mobile money contain?

Monthly Limit: GHS 20,000 (The total amount of money that can be sent or received through your mobile money account in a month). Total Balance Limit: GHS 10,000 (The highest amount of money you can have in your Mobile Money account at any given time. )

How do I withdraw money from MoMo pay?

How do I cash-out of my MoMo wallet? Show. You can cash-out of your wallet by visiting your nearest MTN store or MoMo agent or into any South African bank account.

How much money do I need to start mobile money business in Uganda?

Present a letter of introduction/recommendation from the Local Council. Have a deposit of UGX 80,000/= (Eighty Thousand Shillings) to purchase the kit. Fill in an application form. Have starting Float of UGX 2,000,000/= (Two Million shillings)

How many mobile money agents are there in Uganda?

As of June 2019, the total number of mobile money agents in Uganda corresponded to over 200 thousand.

When did mobile money start in Uganda?

While mobile money might still be a new phenomenon in Uganda, with the first service launched only in March 2009, respondents described a positive experience of using it.

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Hai Afrika!