Financial inclusion is steadily increasing in Uganda, owing to the convenience, safety, and privacy it provides over traditional banking. As mobile money has become a more popular mode of transacting, the demand for mobile money agents in Uganda has increased, as these are the people who act as middlemen, transacting on behalf of telecom companies.
This provides a favorable environment and the perfect opportunity for many to work as mobile monetary operators in a country such as Uganda, which uses financial technology at a high rate. According to a UCC report, Uganda has an estimated 219,577 mobile money agents currently operating.
Mobile money agents in Uganda are given few restrictions to start
The major role of mobile money agents in Uganda is to help get services closer to consumers that the telecommunications firms themselves would have carried out.
As Ali Balunywa, the Sales and Distribution Director of Airtel Uganda explained on NTV Uganda’s show The Link, “An agent transacts on behalf of the telecom company. They give a service for the Airtel business that can be; different transactions, cash in cash out or pay bills. He further explained that part of their role can be to also avail sim cards eliminating the need to go to an Airtel shop.
There are two categories of mobile money agents in Uganda that is a registered entity, a partnership or NGO and an individual can also be an Airtel money agent. It is usually easier for people to start out as mobile money agents as simply individuals. Ali Blaunywa however explains that people are encouraged to later operate as registered entities.
Just like any venture that is done to earn money, being a mobile money agent is quite lucrative today and can be taken on by anyone with very few restrictions as compared to several openings in the working field today. What makes it very attractive is the opportunities it comes along with.
Ali Balunywa explained on the show that it is one of the easiest opportunities to make money today as he explained that for every transaction Airtel mobile money agents in Uganda make like selling cards or registering customers, they are paid by the company.
Requirements to become an Airtel mobile money agent in Uganda
For someone becoming an agent as an individual, these are the requirements.
- National id
- A letter from the LC to show proof of residence
- Proof of a secure working location
- Trading license
- A recent passport photo for easy identification.
To become an agent as a comapny/entity, these are the requirements.
- Copy of company registration certified by URSB
- Trading license
- LC letter from the area of operation
- National ID
It is important to note that as a mobile money agent, one needs to apply to register a new sim card that will be used for work as an agent according to a new law by the Uganda Communications Commission.