Monitise Inks Mobile Banking Deal in Uganda

UK based mobile banking vendor, Monitise has entered a partnership with E-Fulusi Africa, the Tanzanian mobile wallet provider - to provide a fully integrated banking service across East Africa.

Monitise has recently been awarded US$1.5 million of funding by the Africa Enterprise Challenge Fund (AECF) to deliver its service in East Africa. E-Fulusi's technology currently powers the MOBIPAWA and ZPESA services, the first two mobile banking services in Tanzania.

Monitise East Africa will initially offer services in Uganda, where it will have its headquarters in Kampala. In due course the service will expand into neighbouring countries, including Burundi, Democratic Republic of Congo, Ethiopia, Kenya, Rwanda, Tanzania and Zambia.

Nadeem Juma, managing director of E-Fulusi Africa said: "By working with Monitise, we have an opportunity to help transform the lives of millions of people across East Africa. Together we will deliver a highly inclusive service that works across the widest range of networks, banks and phones. Monitise's experience in delivering this across the UK and North America combined with our expertise means that the service has the potential to bring a savings and banking culture to millions of people across the region."

Posted to the site on 23rd February 2009