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Players in the Microfinance Deposit Taking Institutions (MDIs) have backed the proposal by Government to increase their minimum paid up share capital requirements from 25,000 currency points (Shs500M) to 500,000 currency points (Shs10Bn), saying the changes will enable them, engage in more products like insurance, agent banking and mobile banking with their customers. According to Shafi Nambobi,
Kakumiro, Uganda, August 10th, 2023 – Housing Finance Bank joined PostBank and Pride Microfinance Limited to unveil a partnership with Airtel Money Uganda that will facilitate seamless disbursement of Parish Development Model (PDM) funds by the Government of Uganda through the Wendi mobile wallet platform. This partnership guarantees convenient access to funds for intended beneficiaries
Uganda: 'Consult all stakeholders on capital requirements'