Our report has categorized the market based on technology, business model and transaction type.Ĭurrently, USSD holds majority of the market share in the Uganda mobile money market.Ĭurrently, mobile led model holds the largest share in the Uganda mobile money market.Ĭurrently, peer to peer transaction type holds the highest share in the market. IMARC Group provides an analysis of the key trends in each sub-segment of the Uganda mobile money market report, along with forecasts for the period 2022-2027. The ease of using an application on mobile phones for making a transaction have made people familiar with the innovations, thereby fueling the market growth. Moreover, increasing awareness, urbanization and ever-changing technology has further encouraged the adoption of mobile money services in the country. Explore the latest videos from hashtags: ugandanmovies, ugandanmovies, ugandanmovie. Mobile money in Uganda has overtaken cash pick-up and bank deposits as the favored method to receive money. Discover short videos related to ugandan movies on TikTok. Increasing internet penetration in the country has also supported the growth of the market. Mobile money facilitates faster money transfer, safe and secure transaction, affordability and cross border money transfer. In an underdeveloped financial infrastructure in the country with a large number of people having no formal bank account, the mobile money market in Uganda leverages the ubiquity of mobile phones and the convenience offered by the service to the consumers.
Mobile money adoption is growing at a strong pace in Uganda. Mobile money is gaining popularity in Uganda as they offer enhanced security features and convenience to users. Mobile money allows subscribers to transfer money and make payments for services and products via mobile phones. Uganda’s lawmakers have been asked to immediately pay back the monies to the national task. These insights are included in the report as a major market contributor. The money had been planned as part of spending for a coronavirus sensitization project across Uganda. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. Looking forward, IMARC Group expects the market to reach US$ 361.7 Billion by 2027, exhibiting a growth rate (CAGR) of 35.87% during 2022-2027.
The Uganda mobile money market size reached US$ 57.3 Billion in 2021.
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