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Mobile Money Transactions Hit UGX 7.2 Trillion

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Mobile Money transactions hit the Shillings 7.2 trillion in March 2020 from Shillings 3.4 trillion in 2016.

The Finance, Planning and Economics Development Minister, Matia Kasaija disclosed this while presenting the 2020/2021 financial year budget estimates to parliament on Thursday.

He explained that the Information, Communication and Technology (ICT) sector performed well since internet users have increased from 7.5 million in 2016 to 11 million in March 2020.

Kasaija also revealed that the total telephone subscriptions, which constitute 60 percent mobile subscriptions, increased from 21 million in 2016 to 28 million in January 2020.

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