 BOA: Mobile money competition stiffer as bank unveils related platform Bank of Africa has unveiled a mobile banking platform in a bid to tap into the increasing use of mobile money services as a transaction medium.Dubbed Mobile Wallet, the product will enable Bank of Africa (BOA) account and non-account holders to transact/send and receive money using their mobile phones and Automated Teller Machines (ATMs), respectively.Unlike banks like Crane which partnered with MTN mobile money to allow its customers withdraw cash from their mobile money accounts using the bank’s ATMs, the BOA platform, which also allows for card-free ATM withdrawals, is entirely independent of any telecommunication networks’ mobile money platforms, despite using mobile phones to send and receive transaction messages. Read more ▪   MTN Invests $70k In Uganda Entrepreneurial Development Show MTN Uganda has invested Ugx 182 million ($70,000) in the partnership with a human capital development organisation, Inspire Africa, and Bank of Africa to produce a business competition TV show that supports young entrepreneurs. The show called “Sawa Ya Cash”, meaning “Cash Hour”, selects the top 15 business ideas from a pool of over 30,000 locally trained entrepreneurs and rewards the winners with a start-up capital of Ugx 5 million ($1,900) after a competition, which lasts 15 weeks. The CEO of Inspire Africa Mr. Nelson Tugume, in explaining the vision of the show said, “Sawa Ya cash is part of a larger vision of Inspire Africa to stimulate entrepreneurship amongst the youth not only in Uganda but across Africa.” Read more ▪ | The Bank of Africa  |
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