The Ministry of Trade, Industry and Cooperatives has commenced discussions with MTN Uganda on how to fully digitalise Uganda’s businesses with a focus on streamlining the operations of cooperatives, mainly the Savings, Credit Cooperative Organisations (SACCOs).

Ms Sylvia Mulinge, the CEO of MTN Uganda, at a meeting that took place in the office of the Minister of Trade, Industry and Cooperatives Mr Sanjay Tanna in Kampala on Thursday, Ms Sylvia Mulinge, the CEO of MTN Uganda, said they are interested in working with the Ministry of Trade to support cooperatives, especially the SACCOs, to embrace the use of technology such as mobile money, to conduct transactions.

“Unlike the paper-heavy manual transactions, mobile money eases traceability of funds and promotes transparency,” Mulinge said.

Minister Tanna informed the MTN team that there is a lot of money that the government disburses to cooperatives, especially the PDM and Emyooga SACCOs across the country, that MTN can tap into and channel through the mobile money network.

He said the government is very intentional in ensuring financial inclusion, which is one of the 10 pillars of the National Development Plan (NDPIV).

He implored MTN Uganda to target the small traders, market vendors and startups to ensure that they embrace technology in transacting business and be included in the mobile money system. These could be offered Mo-cash loans to grow their businesses. Mr Tanna urged them to look into the issue of high charges for transacting with mobile money that force people to resort to banks.

The minister commended the use of electronic processes in the disbursement of funds, saying it is one of the easiest ways of tracking the funds to ensure that the money reaches the end users.

On the issue of the new trade order aimed at clearing street vendors and unauthorised kiosks from roadsides, pavements, and drainage channels to reduce urban congestion, Mr Tanna advised MTN to support its agents who were affected by the enforcement and resettle them in shops to target a wider market.

Mr Tanna implored MTN to join the government in providing financial literacy to the small businesses by training them in bookkeeping and other areas.

MTN pledged to work closely with the Ministry of Trade on Uganda’s journey towards having a cashless economy.