Uganda Telecom (UTL) the nation's only public-private mobile operator unveiled M-Sente to the public in partnership with United State's MAP International which is providing the mobile banking platform. Sente is a Luganda word that means money.
Speaking at the M-sente launch in Kampala, Tesfai Menghistab, the UTL chief technical officer, said the new service is intended to serve people who have little or no access to the conventional financial services in Uganda. “Customers do not need a bank account to benefit from the services, all one needs is a UTL line and a registered M-Sente account,” Menghistab said.
Roscoe Nsubuga MAP Switch's MD added that the service will enable more people in Uganda to transfer money in a faster, secure and modern way. “This is going to be a revolutionary service that will change our behaviour,” he said.
While there's a thin line between M-Sente, and what is being offered by MTN and Zain Uganda, UTL has made the service more affordable. The company has set a uniform charge (UGX500) as the cost of sending any amount of money by any registered user unlike its competitors. But withdraw charges range between UGX600 and UGX8,600.
