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An insightful presentation by Obopay on banking and mobile scenario in Uganda.
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Banking in Uganda
Bridging the Divide
Mobile UsersTraditional
Banks Mobile Banking
• No of Mobile Users
• Mobile Penetration
• Banking Model
• Gaps in the Model
• Banked percentage of the Population
• Banking for the Unbanked
• User-friendly Technology
• Reducing Expenses
Understanding the Basics
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Commercial Banks
• They are authorized to hold checking, savings and time-deposit accounts for individuals and institutions in local as well as International currencies.
• They are also authorized to buy and sell foreign exchange.
• They are authorized to take customer deposits and to establish savings accounts.
• They are also authorized to make collateralized and non-collateralized loans to savings and non-savings customers.
Microfinance Deposit-taking Institutions
• They are allowed to take deposits from customers in the form of savings accounts.
• MDIs are not authorized to offer checking accounts or to trade in foreign currency.
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Banking Model: Simplified
Source: Wikipedia
Banking in Uganda: Fact File
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Mobiles have become the easiest way to exchange money
• About 79% of Ugandans transfer their money through relatives or taxis, while 13% use mobile money.
• Total population holding accounts in banks is 4 million, or 33 per cent of the 12 million who are bankable.
• The number of commercial bank branches have risen to 455.
Source: Mobile Money Wikipedia Africa Uganda business
Mobile Connectivity
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Total Subscribers: 12 million.
33-40 SIM cards for every 100 people.
Population Penetration: 38.4%
Source: Budde ihub
Uganda largely has a cash based economy and 8 in 10 of those engaged in money transfers,
send or receive it in cash.
Apart from Western Union and Moneygram, there are no competitive offers by local banks
for person to person cash transfers.
The majority of Ugandans give ‘consumption’ or ‘meeting household needs’ as well as
‘emergencies’ like burial as the main reason for saving.
The Need for Mobile Banking
Source: Mobile Money
Commercial banks on the other hand, design savings products that require high, minimum
and operating balance.
Customers who want to access money beyond such limits suffer a cash penalty.
These limitations plus additional fees on otherwise normal banking transactions like
account closing and reactivation make most bank products un-competitive
The Need for Mobile Banking
Source: Mobile Money
Bringing it all Together
• Universal
• Ubiquitous
• UI
Consumer Linkages
GTM
Platform• High Performing
• Efficient
• Global
• Eco-system approach
• Direct integrations
• Inter-operable
• Investment in branding, distribution and operations
• Strategic partnerships
• Appetite to stay the course
Mass Market Offerings Drive Volume/Profitability Create Largest/Network Effect
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Thank You
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