A recent study by Digital Impact Awards Africa (DIAA) has revealed that at least 5,000,000 regular users of mobile financial services in Uganda during a 3 months period spent 7,113,356 man hours (296,390 man days) to clear simple financial transactions and saved 57,989,660 productive hours (An average of 19,329,887 million hours a month) that would otherwise be spent on using traditional transactions payment means.
While releasing this study results, Innocent Kawooya, CEO of HiPipo noted that
“the growth of mobile financial services, digital business and the Internet of Things (IoT) is expected to attract large investment in Africa by 2020” He added that “ Whereas leaders have always got down to discuss high profile topics such as climate change, security and trade, digital driven financial inclusion should take the podium now since it is one of the things that will drive Africa’s prosperity by saving Africans a lot of productive time while performing many important but basic transactions.
Commenting about the Digital Impact Award Africa findings, the project patron Hon. Karubanga David (State Minister for Public Service and Member of Parliament for Kigorobya) noted that “With more people getting financially included using digital financial services, Uganda and the rest of Africa will see more productivity and this would be reflected in a steady growing Gross Domestic Product.”
Find more about the Study
Time Saving Capacity of Mobile Money