Airtel Mobile Commerce Uganda Limited (AMCUL) Pays out UGX3.4bn in first Interest payment to Airtel Money Customers.

Kampala, 27th July 2022: Airtel Mobile Commerce Uganda Limited (AMCUL), the provider of affordable and secure financial services in Uganda has today announced that they will pay interest to the tune of UGX 3.4bn on customers’ daily balances for the past 91 days.

Following the approval of the Trustees of Airtel Mobile Commerce Uganda Limited by the regulator, Bank of Uganda, the leading e-commerce solutions provider has today begun the payment of interest on quarterly balances to over 18 million customers that have an Airtel Money account with AMCUL.

The announcement was made today by AMCUL Managing Director, Mr. Japhet Aritho at their headquarters in Kampala. According to Japhet Interest is earned by any customer who has a minimum of UGX1 (one shilling and above) daily for 91 days (April – June 2022). The more daily balance the customer has, the better opportunity to share on the total interest earned by AMCUL as approved by the Board of Trustees and BOU.

While making the announcement Mr. Japhet Aritho, “We are committed to delivering on our promise to share the economic value generated by this business. We will continue to share this value with our partners, customers, and communities for the transformation of our country”

He added, “Today we are paying interest to over 20 million accounts that include Airtel Customers, franchise partners, and over 150,000 agents.

Customers whose accounts have been dormant for up to 14 months will also receive interest on their balances but will need to activate their accounts before they can redeem their money”

Japhet concluded saying, “We believe this interest payment will ignite a culture of digital transactions on Mobile Wallets like Airtel Money. I encourage individuals and small business owners to continue making digital transactions and save on our SupaSaver account that pays 5% interest. I also encourage them to use our Airtel Merchant Pay that helps them separate personal finances from business finances”

Airtel Money is the dedicated mobile money platform for Airtel Africa. Airtel Money offers mobile money services including payments, microloans, savings, and international money transfers. The distribution model of dedicated Airtel Money branches, kiosks, and mini shops enables customers to access the funds they need.

Airtel Money aims to increase financial inclusion and meet the needs of millions of customers in Africa who have little or no access to banking and financial services. Through the dedicated MyAirtel app, customers can manage all their online needs seamlessly.