Sending money home to rural areas is an important step forward for development in Uganda: Most Ugandans with jobs in cities contribute a significant part of their salaries to support their families in more excluded parts of the country. Chims Africa Ltd. is an important facilitator for this and a strong pillar in the distribution process.
The mobile phone, which is widely used in Africa today, allows many people who previously did not have access to financial services to deposit or withdraw money and to make money transfers.
Chims Africa Ltd. is one of the leading mobile money service providers in Uganda and has contracts with over 2,500 partners. In Uganda, the company handles 10 million transactions every year.
Jobs create opportunities
In addition to access to financial services, Chims also creates jobs for the local population. Many young people train to become Mobile Money Agents at Chims, gaining access to the labour market, which is difficult in Uganda.
Rachel Nakintu is one of them. Having an own, steady income is particularly important for the single mother of two children. A job as a Mobile Money Agent at Chims Africa opened up new opportunities for her and her family. In a short video she explains what her job at Chims means to her.
In order for the company to build up its services, capital was needed: OeEB provided it via an equity investment in the Ascent Rift Valley Fund, a fund focused on developing small and medium-sized enterprises (SMEs) in East Africa.