MTN Mobile Money Uganda, a 100% duly owned subsidiary of MTN Uganda, announced the appointment of Richard Yego as its Managing Director.

“We are delighted that Richard Yego joins the MTN family as the Managing Director for MTN Mobile Money Uganda. He brings with him a wealth of experience attained from his journey through the banking and digital financial services sector, which will be pivotal to the realization of the company’s strategy and vision of creating a modern connected world,” Wim Vanhelleputte, a member of the board of directors of MTN Mobile Money Uganda and the CEO of MTN Uganda, said.

Prior to his appointment at MTN, Richard served as the CEO of the Agent Banking Company of Uganda where he was responsible for the overall operations of the Joint Venture Entity of Uganda Bankers’ Association and Eclectics International.

In the same role, he supported the implementation and roll-out of an inter-operable Shared agent banking technology and agent network infrastructure across Uganda, a move which fast-tracked financial inclusion by ushering convenience in the uptake of digital financial Services among the banked, under-served and unbanked population.

With over 15 years of experience in the financial sector, occupying several senior roles, Richard boasts of a stellar track record in successfully steering disruption in the digital financial services space.

At MTN, Richard will deploy strategy to shape and direct the Mobile Financial Services business. He will provide strategic leadership in the use of technology innovatively to improve and automate the delivery of financial services. He will also harness strategic relationships to develop the financial and mobile money ecosystem.

Richard holds a bachelor’s degree in Economics from Makerere University bolstered by several other qualifications and certifications in Digital Financial services. His appointment takes effect on 1st February 2022, subject to regulatory approval.

Yego’s appointment comes after the formulation of MTN Mobile Money Uganda ltd. in accordance with the National Payments Systems Act 2020 which prescribed the separation of the financial services from the core telecom business.

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