The path to achieving truly inclusive finance in Uganda extends far beyond basic mobile money transfers. That was the central message delivered by MTN MoMo leadership at the Finance Innovations Symposium held on Tuesday this week at the Sheraton Kampala, where the focus was placed on scaling innovation through strategic collaboration between banks, Fintechs, and Telecoms.
It was revealed during the symposium that MTN MoMo is championing a concept of ‘True Digitisation,’ defined by the creation of everyday value and earned customer loyalty through a comprehensive suite of digital financial services.
Unlocking Everyday Value through Digitisation
Jemima Kariuki-Njuguna, MTN MoMo’s Chief Product Officer (CPO), shared a powerful perspective on what defines successful digitisation, arguing that it must transcend basic mobile money operations.
She reminded the symposium that real digitisation “goes far beyond cash-in and cash-out and truly comes to life when customers embrace digital payments, access credit, use merchant services, and connect through remittances because that is where everyday value is created, and loyalty is earned.”
This approach, she noted, shifts the focus from simply facilitating transactions to building an integrated digital ecosystem that supports the full spectrum of a customer’s financial life.
Data-Driven Credit and Partnership Power
A key component of this strategy is the commitment to responsible credit empowerment. Ms. Kariuki-Njuguna highlighted how MTN MoMo leverages advanced data insights and works closely with trusted bank partners to expand customer credit limits.
This methodical approach, she revealed, ensures that credit expansion is executed in a way that drives genuine opportunity and growth, rather than excessive debt.
This message was powerfully reinforced by Violà Namuyaba, MTN MoMo’s Senior Manager of Payments and E-Commerce, who detailed the rapid expansion and strengthening of the MoMo loan marketplace.
She noted that the ecosystem now includes 18 partner trust banks, significantly widening access to various credit products.
Agent Liquidity Solutions
Namuyaba stressed that, having recognised the critical role of MoMo agents as the operational backbone of the service, new products such as the Weekend Agent Loan and Agent Float Loan have been introduced to address pressing liquidity challenges and ensure seamless service across the country.
The discussions concluded with a clear consensus: inclusive finance thrives when three conditions are met: access is widened, partnerships are strong, and the impact is felt where it matters most in the daily lives of customers and agents.