Mobile Money business has since outwitted the banking sector because Ugandans for many reasons find it reliable to use.
The public says it is fast, visible (even in remote areas) and cheap (you can transact any amount of money) on mobile money and above all the business can be transacted at anytime of the day and night.
However, Ugandans are known for using mobile money in transactions of little money.
It is however shocking that the Central Bank deputy governor Louis Kasekende transacted over Shs897.060 million through the mobile money platform for the period June 30, 2017 to March 30, 2018, showing how rich the official is.
According to a document seen by this website Kasekende, who was recently interrogated by the Auditor General John Muwanga, over the liquidation and sale of seven banks, now defunct, transacts over Shs3.3 million on the daily basis.
It shows the filthy rich deputy governor received over Shs443.808 million from his family and his farm manager Bagonza Kasekende on 075959xxx.
He also in that period make payments of over Shs305.734 million (2017) and about Shs136.965 million (2018). The document indicates most of Kasekende’s payments went towards clearing utility bills as well as contributions to weddings, church fundraising, building materials, and dry cleaning services.
The document also shows that some of the money received by Kasekende was through unregistered mobile phone numbers.
The document does not however specify the amount of the money transacted through the unregistered telephone numbers.
The document adds that 75 per cent of the total receipts, where of 2017 and they increased in January 2018 about 52 per cent.