Uganda Gets SMS, Internet Banking
Wednesday, October 11, 2006
DUCONT, a Dubai-based information technology service provider, has teamed up with Uganda’s Solutions For Business to support financial institutions in the country.
Officials said during a presentation on October 4 that the partnership would reduce on the costs of banking services and eventually eliminate long queues at the commercial banks.
Solutions For Business Executive Director Saddiq Mwai said: “Working with Ducont is an opportunity for Ugandans to access over 25 multi media banking services via their mobile phones and this will reduce on the costs of transaction.”
Talks with various commercial banks are going on to enable their customers access the services, Mwai added.
Mr Rajesh Krishnamurthi Ducont Director Sales and Marketing said that Uganda still has a lot of opportunities in telecom and mobile banking, which is not yet exploited.
The officials said a bank customer would be able to know his/her bank account balances and clear salaries, as long as one owns a mobile phone. Nile Bank is one of the banks into SMS and Internet banking.