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M-Cash Uganda wins prestigious PayTech for its innovative E-Voucher system

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M-Cash Uganda has been awarded with the prestigious PayTech award for the Best Contribution to Economic Mobility in Payments, with the innovative E-Voucher system.

The PayTech Awards, organised by Fintech Futures, are dedicated to recognising and celebrating outstanding achievements in the payments industry.

The award was received by M-Cash’s CEO and Founder, Mrs. Edith G. Kutesa, during an event held at Merchant Taylor’s Hall in London recently.

Ms Kutesa said: “This is a reward for our efforts. This recognition is a significant milestone for our community, and we are incredibly proud of this achievement.”

“Winning this award is a testament to the hard work, dedication, and passion of our entire team, and symbolizes M-Cash’s unwavering commitment to delivering the latest technologies and innovative financial services to the last mile,” she added.

The M-Cash E-Voucher system was created to provide a simple payments platform for local governments and impact partners to offer transparent subsidies to developing communities. The system, built by M-Cash developers, was first implemented in 2019-2022 for the Agriculture Cluster Development Program(ACDP), led by the Government of Uganda in partnership with the World Bank.

 The M-Cash E-Voucher system was implemented to help farmers access subsidized quality Agro-inputs, to boost productivity as well as foster financial inclusion.

“Our E-Voucher system also addressed challenges like lack of real-time fund visibility, delayed Agro-dealer payments, and lack of traceability,” M-Cash says.

Additionally, it featured e-KYC for quick enrolment, an e-commerce platform, e-wallet accounts, a reporting module, and modern technologies like AI for face detection, cloud computing, and instant voucher redemption.

Within the subsidy program, M-Cash E-Voucher served 210,000 farmers with 49% female enrolment, onboarded 221 Agro-dealers, and achieved over 170,000 successful redemptions across 57 districts.

M-Cash trained over 198,000 people on system use and 88,000 on financial literacy. The system improved productivity, financial inclusion, gender equality and access to genuine inputs for small-scale farmers.

Despite challenges like poor network connectivity and database issues, M-Cash maintained a 99% system uptime which furthered the project’s success. The E-Voucher system fostered new internet users and integrated ICT in agriculture, benefiting farmers by providing easy access to Agro-inputs and financial services.

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