Airtel Uganda has cut charges on cash withdrawals and person to person transfer rates as the telecommunications company continues its efforts towards the enhancement of cashless economy and financial inclusion.
Speaking to the media, Mr. V.G. Somasekhar the Airtel Uganda Managing Director emphasized on Airtel’s continuous commitment to create affordable and innovative solutions for customers and also focus on their needs. Mr. Somasekhar also said,“With the massive reduction in cash withdrawal and P2P transfer rates, Airtel Money subscribers can conveniently and instantly do so much more in a reliable and secure manner using their mobile phones. By lowering the cost of these transactions, an increased number of Ugandans will get access to affordable and basic financial services at unmatched rates.
The reductions will happen on transactions between 1 million to 7 million shillings.
Table 1; New Cash Withdrawal Rates
| Slab | Before | New | Reduction | Reduction% |
| 1,000,001 – 2,000,000 | 26,500 | 12,500 | 14,000 | 53% |
| 2,000,001 – 4,000,000 | 45,500 | 12,500 | 33,000 | 73% |
| 4,000,001 – 7,000,000 | 60,700 | 12,500 | 48,200 | 79% |
Table 2; Person To Person
| TRANSACTION BANDS | Old Rate | New Rate | Reduction | Reduction | |
| Mininum | Maximum | ||||
| 500 | 2,500 | 250 | 100 | (150) | -60% |
| 2,501 | 5,000 | 500 | 100 | (400) | -80% |
| 5,001 | 15,000 | 1,000 | 500 | (500) | -50% |
| 15,001 | 30,000 | 1,000 | 500 | (500) | -50% |
| 30,001 | 45,000 | 1,000 | 500 | (500) | -50% |
| 45,001 | 60,000 | 1,000 | 500 | (500) | -50% |
| 60,001 | 125,000 | 1,500 | 1,000 | (500) | -33% |
| 125,001 | 250,000 | 1,500 | 1,000 | (500) | -33% |
| 250,001 | 500,000 | 1,500 | 1,000 | (500) | -33% |
| 500,001 | 1,000,000 | 2,000 | 1,000 | (1,000) | -50% |
| 1,000,001 | 2,000,000 | 2,000 | 1,000 | (1,000) | -50% |
| 2,000,001 | 4,000,000 | 2,000 | 1,000 | (1,000) | -50% |
| 4,000,001 | 5,000,000 | 2,000 | 1,000 | (1,000) | -50% |
Airtel also increased its transaction limit from shs. 5million to shs7 million because of the number of subscribers who increased and embraced the Airtel money platform to conduct business and this is the reason why Airtel didn’t want to restrict them by the limits.
