KAARO KARUNGI | KAMPALA – Bank of Uganda has set Shs25m as the amount that telecoms will have to pay in annual licence to operate as a payment service providers or payment systems operator.
The two services are classified separately, which means that a telecom that wishes to operate both will have to pay a combined sum of Shs50m annually.
Telecoms are already operating as payment service providers and payment systems operators, which means they will be required to have the two licences.
The fees are contained in the National Payment Systems Regulations 2021, which effectively split mobile money operations from telecommunication service
