Ugandan fintech, Pivot Pay expands mobile banking to the Middle East- Africa corridor

Pivot Payments, a Ugandan fintech startup has revealed it’s currently focused on expanding its mobile banking services using its pioneer Pivot Pay App for the Middle East- Africa corridor.

Ms Shamirah Kimbugwe, the managing director at Pivot Payments said the company is set on providing a long term mobile banking solution for Uganda’s labour export market using the Pivot Pay App.

The company is strengthening its operations in mobile banking for over 150,000 Ugandans working in the Middle East some of whom are financially excluded spread across Gulf countries in Saudi Arabia, Qatar and United Arab Emirates.?

“Today, we are 140,000 users strong, with more than 54 percent of them being female. Their stories are personal for us. Their success is our success. Many of them are mothers. And when they Save, Spend or Send money safely to their families, our purpose is validated,” she explained.?

Ms Kimbugwe explained that it is also well documented that Ugandans working in the Middle East send money to their home bank accounts but find it misappropriated by close relatives or friends, adding that, “At least, we have heard stories of how hardworking Ugandans have committed suicide.”

“Over time, our ‘Kadamas’ continue to face challenges when they want to send money back home such as; high costs, and more so, there’s no direct channel that is home grown,” she noted.?

She said the focus on Middle East was inspired by a mother who had sent money from the Middle East back home and after two years, she came home to nothing!

“We came up with the Pivot Pay App, where they can Save, Send or Spend their money. In the App, we have an inbuilt mobile wallet where they can keep their money which is a digital bank for them,” Kimbugwe said.

Pivot Pay App gives customers a mobile wallet with the options to save, spend or send money to Peers with a wallet, mobile money or any bank in Uganda.

So, this gives clients control over their money on how to save and spend.

?The fintech company plans to consolidate the UAE- Africa corridor but also to extend to other African markets.

The plan is to move into Nigeria, Kenya, Tanzania and Ghana. By the end of the year, we are set to be established in six markets across Africa serving over 2 million customers,” she concluded.