Uganda, Nov. 17 -- Bank of Uganda has said it will need stakeholders such as Uganda Communications Commission to cleanse the mobile money sector of emerging anti-competitive practices.

Speaking during the signing of a revised memorandum of understanding between Central Bank and UCC, which provides a framework for digital transformation by facilitating information exchange and cooperation on licensing, Dr Michael Atingi-Ego, the Bank of Uganda deputy governor, said there is need for a level playing ground that is vital for market integrity.

Therefore, he said, the Central Bank will seek to foster fair competition among big telecoms and new entrants.

"We pray for the UCC's support in cleansing the sector of the emerging anti-competitive ...