Ugandan police are investigating the hacking of a firm that processes mobile money transactions for two telecoms firms, including a unit of South Africa’s MTN group. Mobile money is a cellphone-enabled service that allows subscribers to transfer and receive money and pay for such things as utilities bills, food orders and cab rides. The platform has developed rapidly in Africa. In Uganda, a total of $20 billion worth of transactions passed through the mobile money system in 2019, according to the central bank. Pegasus Technologies Ltd, whose network was hacked, processes mobile money transactions between MTN Uganda, the east African country’s largest telecom operator, and Airtel, a unit of India’s Bharti Airtel.
SOURCE: REUTERS AFRICA
More Stories
Up-to-date and Easily Reachable through Open-access Publication Information on Africa’s Trade
The Mobile Market in Sub-Saharan Africa is on the Brink of a Significant Transformation
The Future of EVs in Africa’s Most Populous and Largest Economy
It is Clear from the Data that African Tech Remains a Male-dominated Landscape
The Artisanal and Small-scale Gold Mining sector in Ghana is Complicated
French Banking Group Takes a Step Back in some African Markets
Talks from the Sidelines of the Africa CEO Forum
Yaounde and Brazzaville on Track to Ease Movement of Goods
One of Mozambique’s Poorest Regions, but it is Rich in Untapped Mineral Resources
How Moroccan Farmers are Going Green
Kagame Shakes Up his Cabinet
Trauma Experienced by Staff at Nairobi Facebook Hub recognised in Legal Ruling