The Uganda mobile money market size reached USD 133.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 1,150.1 Billion by 2033, exhibiting a growth rate (CAGR) of 25.73% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033 |
Historical Years
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2019-2024
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Market Size in 2024 | USD 133.0 Billion |
Market Forecast in 2033 | USD 1,150.1 Billion |
Market Growth Rate 2025-2033 | 25.73% |
Mobile money allows subscribers to transfer money and make payments for services and products via mobile phones. Mobile money is gaining popularity in Uganda as they offer enhanced security features and convenience to users.
Mobile money adoption is growing at a strong pace in Uganda. In an underdeveloped financial infrastructure in the country with a large number of people having no formal bank account, the mobile money market in Uganda leverages the ubiquity of mobile phones and the convenience offered by the service to the consumers. Mobile money facilitates faster money transfer, safe and secure transaction, affordability and cross border money transfer. Increasing internet penetration in the country has also supported the growth of the market. Mobile money in Uganda has overtaken cash pick-up and bank deposits as the favored method to receive money. Moreover, increasing awareness, urbanization and ever-changing technology has further encouraged the adoption of mobile money services in the country. The ease of using an application on mobile phones for making a transaction have made people familiar with the innovations, thereby fueling the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the Uganda mobile money market report, along with forecasts for the period 2025-2033. Our report has categorized the market based on technology, business model and transaction type.
Breakup by Technology:
Currently, USSD holds majority of the market share in the Uganda mobile money market.
Breakup by Business Model:
Currently, mobile led model holds the largest share in the Uganda mobile money market.
Breakup by Transaction Type:
Currently, peer to peer transaction type holds the highest share in the market.
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Technology, Business Model, Transaction Type |
Companies Covered | MTN Group Limited (MTN Uganda) and Bharti Airtel Limited |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The Uganda mobile money market was valued at USD 133.0 Billion in 2024.
We expect the Uganda mobile money market to exhibit a CAGR of 25.73% during 2025-2033.
The rising internet penetration, along with the increasing consumer awareness towards various benefits associated with mobile money, such as ease of accessibility, 24/7 availability, security, lower transaction costs, etc., is primarily driving the Uganda mobile money market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of mobile money over conventional cash-based methods across the nation for conducting financial transactions with minimal human interaction to mitigate the risk of the coronavirus infection.
Based on the technology, the Uganda mobile money market has been segmented into USSD, mobile wallets, and others. Currently, USSD holds the majority of the total market share.
Based on the business model, the Uganda mobile money market can be divided into mobile led model and bank led model, where mobile led model currently exhibits a clear dominance in the market.
Based on the transaction type, the Uganda mobile money market has been categorized into peer to peer, bill payments, airtime top-ups, and others. Currently, peer to peer accounts for the largest market share.
Some of the major players in the Uganda mobile money market include MTN Group Limited (MTN Uganda) and Bharti Airtel Limited.