Airtel Money to pay out UGX3.4bn in first Interest payment to customers starting Thursday - UG Standard - Latest News
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Airtel Money to pay out UGX3.4bn in first Interest payment to customers starting Thursday

Mr. Japhet Aritho (C), Managing Director at Airtel Mobile Commerce Uganda Limited, David Birungi (L) PR Manager at Airtel Uganda, and Andrew Rugamba, Head of Ecosystems at Airtel Mobile Commerce Uganda Limited (R) during the announcement of the Airtel Mobile Commerce Uganda Limited (AMCUL) Payment of UGX3.4bn in first Interest payment to Airtel Money Customers

Mr. Japhet Aritho (C), Managing Director at Airtel Mobile Commerce Uganda Limited, David Birungi (L) PR Manager at Airtel Uganda, and Andrew Rugamba, Head of Ecosystems at Airtel Mobile Commerce Uganda Limited (R) during the announcement of the Airtel Mobile Commerce Uganda Limited (AMCUL) Payment of UGX3.4bn in first Interest payment to Airtel Money Customers (PHOTO/Courtesy)

KAMPALA — Airtel Mobile Commerce Uganda Limited (AMCUL) will pay interest to the tune of UGX 3.4bn on customers’ daily balances for the past 91 days (April, May and June).

Following the approval of the Trustees of Airtel Mobile Commerce Uganda Limited by the regulator, Bank of Uganda, Airtel said will begin the payment of interest on quarterly balances to over 18 million customers that have an Airtel Money account with AMCUL.

The announcement was made by AMCUL Managing Director, Mr. Japhet Aritho at their headquarters in Kampala.

According to Aritho interest is earned by any customer who has a minimum of UGX1 (one shilling and above) daily for 91 days (April – June 2022).

The more daily balance the customer has, the better opportunity to share on the total interest earned by AMCUL as approved by the Board of Trustees and BOU.

While making the announcement Mr. Japhet Aritho, “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”

He added, “Today we are paying interest to over 20 million accounts that include 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”

Japhet concluded saying, “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”

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