A joint partnership between Trinity Technologies and Zain, one of the leading mobile phone networks in South Sudan will introduce M-Gurush. The service will allow subscribers to deposit, withdraw and transfer money as well as make payments for goods and services.
M-Gurush places South Sudan as the 92nd country to offer mobile money services across the world.
Basically, services that will be available include cash in, cash out, bill payment, airtime purchases, cross border remittances and power payment,” said Mr Arinaibwe the M-Gurush Deputy Vice President. It will help the country enhance financial inclusion, an aspect that is key in reducing poverty and attaining desired inclusive economic growth.
“It will reduce the cost of moving funds between people, government and businesses as well as target the upcountry areas to help rural market penetration and digitise agriculture,” Mr Arinaibwe said.
Mr Gideon Badagawa, the Private Sector Foundation Uganda executive director, yesterday described the development as good for Ugandan traders in the country.
“It is a good one as far as I am concerned. But hopefully it is not going to be a monopoly because then you have issues of high prices and it becomes very expensive,” he said.