MAM Telecom Ltd, a Uganda-based financial infrastructure company, said it has received a $250,000 grant from an unnamed South African businessman.
The money will fund regulatory licensing, compliance systems, technology development and the recruitment of technical and operational staff as the firm prepares for its initial launch in Uganda.
Founder and chief executive Milon Ahabwe Mutebile stated, “Securing this grant is an important validation of that approach,” adding that the resources will help strengthen the regulatory foundation and bring in critical talent.
The platform being built will allow mobile-money agents and other financial-service providers to access digital float and will offer centralised settlement, reconciliation, reporting and API connectivity for fintechs and enterprises.
MAM Telecom aims to tackle fragmented liquidity management, delayed float top-ups and limited visibility into settlement processes that affect agents across East Africa.
A compliance-first strategy will embed anti-money-laundering, know-your-customer and transaction-monitoring controls into the system from the outset.
The company is also creating MAM Fex, a cross-border remittance and foreign-exchange product that will run on the same infrastructure.
The grant, equivalent to about KSh32 million, supports the next development phase, though the firm has not disclosed a launch date or detailed expansion timetable, and plans to expand across East Africa after the Uganda rollout.
“We see this as the beginning of a much more intensive phase of execution,” Mutebile said, noting that the priority is to build regulatory, technical and operational foundations before scaling.
