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Ugandan fintechs expect to lose UGX 666 bln daily in internet shutdown

Monday 18 January 2021 | 15:16 CET | News
Ugandan financial technology companies say they expect to lose at least UGX 666 billion daily after the government shut down the internet on 13 January, The Monitor reported. The loss is expected to affect banks, telecoms (mobile money) and insurance companies.  Peter Kawumi, the Financial Technology and Service Providers Association chairman, told Daily Monitor that more than 300 million transactions conducted via fintechs daily basis had been halted due by the shutdown.

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Categories: Internet / Mobile & Wireless
Countries: Uganda
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