Hormuud bolsters mobile money platform with bank partnerships

MTN Uganda announced plans on Wednesday to hold an extraordinary general meeting (EGM) on July 2 to discuss and vote on the proposed spinoff of its mobile money and fintech business, MTN MoMo, from its core telecoms operations.

MTN Uganda Mobile Money managing director and CEO Richard Yego revealed the operator is aiming to almost double its loans to UGX1 trillion (US$256,000) this year. 

Globe Telecom president and CEO Ernest Cu said on Monday that unauthorized transactions that affected some GCash wallet users in the Philippines over the weekend were the result of a glitch, and that no funds were lost.