Mobile money to be legislated.

By Ssebuliba Samuel:

Parliament is set to start the process of developing a comprehensive legislation that will regulate Mobile Money Business in the Country.

Currently this multitrillion trillion business is one of the fastest growing venture, but with no legislation.

According to the Chairperson parliamentary ICT committee Annet Nyakecho starting 12th September committee will be getting interacting with different stake holders in this Business to enable them come up with a comprehensive bill.

According to bank of Uganda in the year 2016, total value of mobile money transactions stood at Sh43.8 trillion which is above Shs32.5 trillion transacted by December 2015