Mobile money, particularly MTN MoMo, has evolved from a simple money transfer service into a powerful engine for financial inclusion and economic growth in Uganda. This transformation is at the heart of MTN Uganda’s inaugural Sustainability Report, launched in Kampala on Tuesday, August 26, 2025.
The launch of the Sustainability Report was officiated by Bank of Uganda Governor Michael Atingi-Ego, and attended by, among others, MTN Uganda CEO Sylvia Mulinge, MoMo CEO Richard Yego, and Hon. Godfrey Kabbyanga, the State Minister for National Guidance.
The Report redefines business success beyond profits, extending the scope to a commitment to a more sustainable and inclusive future for the country.
MoMo’s Role in Fueling Uganda’s Economy
MTN Uganda’s Chief of Strategy and Stakeholders, Stephen Mutana, emphasised that MoMo is no longer just a financial service; it’s a life-changing platform that is empowering millions of Ugandans every day.
“What started back in 2009 as a small mobile money department has grown into a life-changing service that fuels Uganda’s economy and empowers millions every day,” Mutana said.
“The numbers speak for themselves: in just the first half of this year, 2.4 billion transactions were made, marking a remarkable 20% growth,” he added.
He noted, however, that the real impact goes beyond the statistics because MoMo drives financial inclusion and enables Ugandans in the following ways:
Small traders can keep their businesses running and transact securely.
Parents can support their families and pay for essential services like school fees.
Entrepreneurs can manage their finances, access credit, and connect to a broader digital economy.
Mutana explained that by providing services like loans, savings, and investment tools such as Yinvesta, MoMo is fostering a culture of saving and financial discipline among Ugandans, particularly those who were previously unbanked.
Sustainability as a Core Business Strategy
MTN Uganda’s CEO, Mulinge, highlighted that sustainability is not just a matter of ethics but a strategic imperative.
“A business cannot grow if the environment it depends on is collapsing, or if the people it serves are left behind,” she stated.
Mulinge noted that the Sustainability Report is an act of transparency and accountability, demonstrating the company’s commitment to creating lasting impact.
Commitment to Green Energy
The report also unveiled Project Zero, a bold initiative partly spearheaded by MTN Uganda to cut carbon emissions by 2040.
Thomas Motlepa, the Chief Technology and Innovation Officer (CTIO) of MTN Uganda, revealed that from expanding 4G coverage to deploying solar-powered data centres and improving energy efficiency, MTN is reimagining technology to protect the environment while keeping everyone connected.
He noted that Sustainability is not just about connectivity, but also inclusivity, responsible business, and lasting impact.
Mulinge revealed that by deploying renewable energy solutions, such as solar power, and improving energy efficiency at their data centres, MTN is actively working to protect the environment while keeping everyone connected.
In essence, MTN’s approach is about building businesses that uplift communities and leave no one behind.
The company’s growth is being measured not just by its financial performance but by its ability to create a more inclusive, responsible, and sustainable future for Uganda.