The Kampala-based fintech business MAM Telecom Ltd has joined FasterCapital’s EquityPilot initiative. This will help the company raise $5 million to introduce the first digital float liquidity platform in East Africa, which will operate around the clock.
- The Kampala-based fintech business MAM Telecom Ltd has joined FasterCapital’s EquityPilot initiative. This will help the company raise $5 million...
- A significant problem with Uganda’s mobile money system is what the project aims to fix.
- Despite processing over UGX 50 trillion annually, over 300,000 agents lose money every day because they run out of float.
- Licensed digital system to enhance 24-hour float MAM Telecom is constructing a licensed digital system to enable agents, merchants, SACCOs, and...
Keep reading for the full breakdown on digital float liquidity — everything you need to know is covered below.
A significant problem with Uganda’s mobile money system is what the project aims to fix. Despite processing over UGX 50 trillion annually, over 300,000 agents lose money every day because they run out of float.
This issue typically arises on weekends, at night, and in remote locations where banks cannot provide prompt support.
The founder and CEO, Milon Ahabwe Mutebile, stated that agents shouldn’t lose clients simply because they don’t have any float after business hours. He hopes that, starting in 2026, all agents in Uganda will have dependable, immediate access to float through FasterCapital.
Licensed digital system to enhance 24-hour float
MAM Telecom is constructing a licensed digital system to enable agents, merchants, SACCOs, and institutions to receive emergency top-ups and float 24/7. Real-time dashboards and API connections with MTN, Airtel, and regional banks will provide them with access to this.
Dubai-based FasterCapital will assist MAM Telecom in establishing connections with investors and getting ready for the fundraising phase.
According to its CEO, Hesham Zreik, MAM Telecom is addressing a significant issue in Africa’s digital payments market and has a tremendous opportunity to expand throughout the continent.
Additional staffing, technology, float reserves, and licenses will all be funded with the $5 million. The company plans to expand from its Kampala base to three remote districts.