Airtel Money customers to earn interest on their daily balances

Airtel Mobile Commerce Uganda Limited (AMCUL) has announced that it is set to pay interest amounting to Ush3.4b on customers’ daily balances for the past 91 days.

This development follows the approval of the Trustees of Airtel Mobile Commerce Uganda Limited by the financial services regulator, Bank of Uganda. The interest payment will be on quarterly balances to over 18 million customers with an Airtel Money account with AMCUL.

This game-changing announcement was made by AMCUL Managing Director, Mr Japheth Aritho at their headquarters in Kampala.

Mr Japheth Aritho (Centre) Managing Director at Airtel Mobile Commerce Uganda Ltd, David Birungi (L) PR Manager at Airtel Uganda & Andrew Rugamba, Head Ecosystems at Airtel Mobile Commerce UG Ltd
Mr Japheth Aritho (Centre) Managing Director at Airtel Mobile Commerce Uganda Ltd, David Birungi (L) PR Manager at Airtel Uganda & Andrew Rugamba, Head Ecosystems at Airtel Mobile Commerce UG Ltd displaying the Airtel money customers’ interest

 According to Ariho, interest is earned by any customer who has a minimum of one shilling and above daily for 91 days (April – June 2022).

“We are committed to delivering on our promise to share the economic value generated by this business. We will continue to share this value with our partners, customers and communities for the transformation of our country,” said Mr Aritho during his announcement.

The more cash amount or daily balance a customer has on his or her Airtel money account, the better opportunity to share the total interest earned by AMCUL as approved by the Board of Trustees and Bank of Uganda.

He added, “Today we are paying interest to over 20 million accounts, including Airtel Customers, franchise partners and over 150,000 agents.
Customers whose accounts have been dormant for up to 14 months will also receive interest on their balances, but will need to activate their accounts before they can redeem their money”

In conclusion, Japhet said; “We believe this interest payment will ignite a culture of digital transactions on Mobile Wallets like Airtel Money. I encourage individuals and small business owners to continue making digital transactions and save on our SupaSaver account that pays 5% interest. I also encourage them to use our Airtel Merchant Pay that helps them separate personal finances from business finances.”

Business Times Uganda

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