- Wim Vanhelleputte, the Chief Executive Officer MTN Uganda, and VG Somasekhar, the Managing Director Airtel Uganda, have announced the restoration of mobile money services in Uganda.
- Uganda’s telecoms and banking sectors plunged into a crisis after a major hack that compromised Uganda’s mobile money network on Oct. 3.
Wim Vanhelleputte, the Chief Executive Officer MTN Uganda, and VG Somasekhar, the Managing Director of Airtel Uganda, have announced the restoration of mobile money services in Uganda. Customers can now send and receive money across both networks. The official statement reiterated its commitment to deliver secure and seamless mobile money services to its customers.
Uganda’s telecoms and banking sectors plunged into a crisis after a major hack that compromised Uganda’s mobile money network on Oct. 3. The disruption which mainly affected bank to mobile wallet transfers was caused due to a security breach on a consumer finance aggregator, Kampala-based Pegasus Technologies that provides financial and billing solutions. Almost $3.2 million is estimated to have been stolen in this latest incident. According to reports, the hackers used around 2,000 mobile SIM cards to gain access to the mobile money payment system. In response to the development, MTN Uganda and Airtel Uganda, suspended mobile money service transactions between their networks.
