Airtel Mobile Commerce Uganda (AMCUL), commonly known as Airtel Money, has partnered with Stabex International, a leading fuel distribution company, to enhance digital financial inclusion and promote cashless transactions in Uganda.
The collaboration enables Airtel Money customers to pay for fuel and access other services at any Stabex fuel station nationwide using their mobile wallets. This development is expected to boost convenience and security for customers.
According to Hope Ekudu, Airtel Money Operations Head, the partnership is a significant step towards promoting digital financial inclusion. “Airtel Money is committed to delivering innovative, secure, and borderless financial services. This partnership allows our customers to make cashless transactions for fuel purchases and access other services at Stabex fuel stations.”
Uganda has seen significant growth in cashless transactions, driven by increasing mobile phone penetration and government initiatives to promote digital payments. The Uganda Communications Commission’s (UCC) 2024 Quarter 2 report indicates that mobile money transactions have increased to 1.84 billion, up from 1.72 billion in the previous quarter, representing a 7% quarter-on-quarter growth.
Additionally, the Bank of Uganda’s 2024 Financial Inclusion Survey reports that 71% of Ugandans now use mobile money services, up from 61% in 2020. The survey also notes that the value of mobile money transactions has risen to UGX 63 trillion (approximately USD 17 billion) in 2024, up from UGX 44 trillion (approximately USD 12 billion) in 2020.
The partnership between Airtel Money and Stabex International is a strategic move to tap into this growing demand for digital payments. With this collaboration, both companies are poised to benefit from the increasing adoption of cashless transactions in Uganda.
Stabex International’s General Manager, Justus Kiptoo, noted that the partnership simplifies fuel purchases and other services, providing greater convenience and value to customers. “We encourage Ugandans to embrace cashless payments, making transactions faster and more secure.”
As part of the partnership, Stabex customers making cashless payments will be entered into a draw to win exciting prizes in Airtel Money’s ongoing Vroomula Amajja campaign, including a brand-new Toyota RAV4 Hybrid SUV, motorbikes, and e-money.
Over 2,000 Airtel Money users have already been rewarded with various prizes, including 52 motorbikes worth UGX 200 million and daily cash rewards for cashless transactions. Airtel Money’s efforts are transforming how Ugandans transact, fueling dreams, powering ambitions, and driving the nation towards a cashless future.
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