Ugandan fintech infrastructure startup MAM Telecom Ltd is building a broader payment and settlement system aimed at fixing long-standing problems in Uganda’s mobile money sector while preparing for expansion across East Africa.
The company is also positioning its cross-border remittance platform, MAM Fex, for rollout into other regional markets.
MAM Telecom’s infrastructure plans cover several parts of the digital payments system, including agent liquidity management, payment settlement rails for financial service providers, merchant payment support, enterprise payment services, and cross-border money transfers.
The move reflects growing demand for stronger financial infrastructure across Sub-Saharan Africa, where mobile money usage has expanded quickly but supporting systems have often struggled to keep pace.
According to the company, many mobile money agents in Uganda still face serious operational challenges. These include shortages of float, which limits their ability to process transactions, fragmented settlement systems that increase reconciliation costs, and poor real-time visibility into liquidity levels across agent networks.
Such problems are common across East Africa’s mobile money industry, especially among smaller operators outside the coverage areas of major telecom companies.
Founder and Chief Executive Officer Milon Ahabwe Mutebile said the company sees major opportunities in improving the infrastructure behind digital financial services.
“We believe there is significant opportunity in strengthening the infrastructure layer behind digital finance, particularly around liquidity coordination, settlement reliability, and affordable cross-border money movement,” he said.
MAM Telecom’s remittance product, MAM Fex, is being designed with lower transfer costs in mind. The company said it plans to charge fees of around 0.7% to 0.9% across targeted transfer corridors. This is lower than the 3% to 5% fees often charged by traditional providers for regional money transfers in East Africa.
According to World Bank estimates, Uganda received about $1.4 billion in remittance inflows in 2024. The East African corridor, including Kenya, Tanzania, and Rwanda, remains an important market for affordable digital money transfer services.
MAM Telecom said its short-term priorities include meeting regulatory requirements, improving operational readiness, and attracting investors before beginning wider regional expansion.
The startup is currently working with FasterCapital through its EquityPilot programme, which supports early-stage companies with fundraising and strategic development.
Hesham Zreik said the company is addressing important gaps in financial services infrastructure, particularly around payments and liquidity management.
