Uganda: Revisit Consumer Rights in Mokash Mobile Money Service

19 September 2016
opinion

MTN Uganda's partnership with Commercial Bank of Africa (CBA) to start a service code named MoKash should first address consumer rights questions. The service offers MTN Mobile Money users the option to save money and access loans using mobile money.

One has to have an MTN mobile money account and a fixed deposit account in CBA in order to access the service. Customers can save any amount while earning an interest or take out short term loans of 30 days at an interest. The loan amount ranges between Shs 3,000 to Shs1,000,000 at 9 per cent interest.

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