Africell Closure: Customers to Recoup Savings from Stanbic Bank

Bank of Uganda has advised all Africell mobile money customers to claim their monies from Stanbic Bank Uganda.

The Governor, Bank of Uganda, Emmanuel Tumusiime Mutebile, in a statement, said Stanbic Bank shall pay all the beneficiaries over a period of ninety days with effect from October 8, 2021.

Mutebile said after the expiry of the ninety days, the details of any unpaid beneficiaries and respective amounts shall be transferred to Bank of Uganda.

“There after any customer claims shall be submitted together with supporting identification details to the office of the Director National payment Systems Department,” He said.

Mutebile advised the Africell mobile money customers to visit the Stanbic bank branches with their identification details and an alternative phone number or back account to which payment can be made.

Africell Uganda Limited will cease to deliver mobile money services with effect from October 7, 2021.

This follows the company’s voluntary exit from the Ugandan Market,

The company was offering mobile money services in partnership with Stanbic bank Uganda Limited.

Mutebile assured Ugandans that the central bank, will continue to safeguard the stability and integrity of the financial sector.