Currencies Acceptable in All EAC States

Residents of Kenya, Rwanda, Uganda, Burundi and Tanzania will now be able to travel with their respective national currencies in other East African Community (EAC) countries and make digital cross-border cash transactions in real time. The new development comes through the just launched East African Community project on Payment and Settlement Systems Integration Programme (PSSIP)

MasterCard and Ecobank Announce Multi-country Agreement in 28 Sub-Saharan African Countries

Ecobank Transnational Inc. and MasterCard, have announced a multi-country licensing agreement which will provide access to MasterCard’s electronic payments solutions for Ecobank’s customers in a further 23 African countries. The agreement is the culmination of a Memorandum of Understanding (“MOU”) originally signed in November 2011, and importantly, enables electronic payments access to more than 60%

Uganda Government To Consider Islamic Banking

President Yoweri Museveni of Uganda has disclosed that government is considering introduction of Islamic banking system in Uganda. The President who was speaking at a dinner he hosted to the Muslim community to mark the end of the Islamic holy month. The dinner was held at State House Entebbe. The President was responding to remarks

Air Uganda Unveils New Revamped Booking and Online Payments

Air Uganda launched a new revamped booking engine, with improved functionality. The new engine which is now live on the Air Uganda Website was unveiled to the press by the air Uganda management team at their headquarters in Kololo. The new platform which was launched in June this year allows customers to search, book and

Interswitch Signs Strategic Alliance with UnionPay

Interswitch Transnational, a leading pan-African integrated payments company with operations in Nigeria and a growing presence in West and East Africa, announces that its Switching and Processing division (“Interswitch S & P”) has completed an acceptance and acquiring third party payment processing integration with UnionPay International. As a result of this integration, UnionPay cardholders from

MTN Uganda Revises Mobile Money Tariffs Following New Tax on Money Transfer

MTN Uganda announced revised Mobile Money rates effective July 2nd, 2013. Commenting on this increment, the MTN Uganda’s GM Corporate Services, Anthony Katamba said, “According to the new national budget 2013/2014, the 10% levy on Mobile Money is to be applied on transaction fees paid on all money transfer services and as such the fee