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Tag: MTN Uganda

Mobile Money Hacker are still in the Country, still Hunted by Police.

Mobile Money Hacker are still in the Country, still Hunted by Police.

Business, FEATURED, NEWS
Uganda’s police are searching for hackers who accessed the systems of a third party that processes phone-based transactions, with companies affected including MTN Group and Standard Bank Group’s local units. The fraudsters got into the mobile-money systems and stole funds, according to Charles Twine, spokesman for the Criminal Investigation Department. Investigations will help identify how the systems were hacked, the people involved and the amount of money stolen, he said. The “system incident” at the third party “impacted bank-to-mobile money transactions,” MTN Uganda, Stanbic Bank Uganda and Airtel Africa’s local unit said in a joint statement. Mobile money, as it’s known, is popular in Africa for making payments for everything from groceries to utility bills, with options...
Bank to Mobile Money Services Suspended as Hackers Make off with Billions

Bank to Mobile Money Services Suspended as Hackers Make off with Billions

Business, FEATURED, NEWS
 A joint statement from Stanbic, Airtel and MTN Uganda.   Stanbic Bank Uganda, MTN Uganda and Airtel Uganda inform the public and their customers that on Saturday 3 October 2020, a third-party service provider experienced a system incident which impacted Bank to Mobile Money transactions.  All Bank to Mobile Money/Wallet services have since been temporarily suspended. This system incident has had no impact on any balances on both Bank and Mobile Money accounts. Our technical teams are analysing the incident and will restore services as soon as possible. We apologise to all customers for any inconvenience that this has caused and reiterate our commitment to delivering seamless banking and mobile money services.  The October 5 statement was sig...
MTN Uses Netherlands Tax Haven to Escape African Tax Bills

MTN Uses Netherlands Tax Haven to Escape African Tax Bills

Business, FEATURED, NEWS, TECH
South African telecoms giant MTN appears to have avoided paying any capital gains tax in Uganda on the lucrative sale of its investment in mobile phone masts in the country. MTN’s latest financial statements show a profit of 1.3 billion South African Rand – almost $80 million — from the sale of its interests in Uganda. Taxed at the standard 30 percent rate, this could have yielded $25 million for the hard-pressed country. According to the newspaper, MTN had a 49 percent shareholding in a Dutch joint venture company which ultimately owns the towers, and it sold its stake in this Dutch company instead of selling the towers themselves. Now look at this separate story, from Ghana Business News: Ghana could miss out on as much as GH¢400 million in capital gains tax following t...
Affordable Smartphones Drive Digital Inclusion In Africa, Handset Adoption Can Guide Leap To 4G

Affordable Smartphones Drive Digital Inclusion In Africa, Handset Adoption Can Guide Leap To 4G

FEATURED, TECH
By Our Reporter With mobile connectivity now integral to the modern economy, a key part of any national development programme must be digital inclusion. This is being achieved by expanding mobile broadband coverage, but there is another important consideration: smartphone affordability. A recent GSMA report shows that smartphones make up 39% of the 774 million mobile connections in Sub-Saharan Africa. This is projected to grow significantly, but for Africa’s people to fully reap the dividends of mobile connectivity, it is critical that 4G-enabled smartphone handsets be made more easily attainable for the entry-level market. Many African youth have embraced the use of Smart Phones This calls for financial innovation alongside the technological innovation that characterise...
Ugandans Stranded After MTN – Yaka Payment System Breaks Down

Ugandans Stranded After MTN – Yaka Payment System Breaks Down

FEATURED, NEWS
By Keefa Nuwahereza Technicians and engineers working for power distributors Umeme and telecom giants MTN Uganda, are scratching heads after the system handling Yaka payments on mobile money breaking down. Some of the frustrated Ugandans we talked to revealed that it is very hectic to load Yaka Units and if a client pays today, the earliest time it will take them to receive a payment token is between 7-12 hours,  which has become a huge inconvenience, especially to people running businesses, health facilities and individual consumers. The system breakdown has become so serious that after receiving so many complaints, MTN Help Desk has since  decided to add it on their Menu for inquiries. The caller Machine says '...Please note that we have a technical problem with the Yaka pay...
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