Redknee Selected to Supply Uganda Telecom with Mobile Money Services



    


    
    Redknee's Mobile Money 2.0 solution to enable Ugandans to overcome key
barrier to accessing financial services
    

    
    TORONTO, Feb. 16 /PRNewswire/ -- Redknee (TSX / AIM: RKN), a leading
provider of mission-critical software and solutions for communications service
providers, is pleased to announce that it has been selected by Uganda Telecom
to provide Redknee's Mobile Money 2.0 solution, enabling Uganda Telecom
subscribers to pay for goods and securely store and transfer funds with their
mobile phones. Implementation will begin as soon as all requirements for
launching the service have been approved.
    

    
    It has been projected that almost 90 percent of the five million
households in Uganda do not have a bank account. Redknee's Mobile Money
services will enable Uganda Telecom to provide its subscribers the means to
store funds easily and to send payments and transfers using a safe and
inexpensive channel.
    

    
    Redknee's newly introduced Mobile Money 2.0 solution enables subscribers
to store and transfer funds through their mobile handset, providing an ideal
service for developing countries that may have poor or limited banking
resources in their rural communities.
    

    
    Some of the rural regions of Uganda lack an easily accessible banking
infrastructure, which has been a key barrier to providing financial services.
Through increased mobile penetration in Uganda and the expected launch of
Mobile Money, Uganda Telecom will be providing Ugandans with unparalleled
access to a new generation of financial services.
    

    
    "Uganda Telecom realizes that the benefits of Redknee's Mobile Money
solution go beyond innovation and service excellence, but also have the
potential to deliver socio-economic change. I believe this solution will put
Uganda Telecom in good stead to truly elevate Uganda's citizens with easy
access to financial services across the board," says Hans Paulsen, Chief
Commercial Officer of Uganda Telecom.
    

    
    The Mobile Money service is planned to be available initially for
domestic payments and transfers, and Uganda Telecom has the potential to
expand the service and other microfinance initiatives easily, quickly and cost
effectively to international regions. Uganda Telecom serves over 1 million
subscribers.
    

    
    "The benefits of Mobile Money services for the high-growth markets
translate into strong socio-economic benefits. This milestone that Uganda
Telecom has committed to achieving helps to truly elevate Uganda's citizens by
providing easy access to financial services," says Mark Yaphe, Vice President
of Product Management and Marketing at Redknee.
    

    
    Redknee's Mobile Money portfolio includes Mobile Wallet, Mobile Money
Transfer, Roaming Recharge and Airtime Reseller. Redknee's Mobile Money
solution is easily integrated into any existing billing solution, reducing the
expense and time-to-market for operators.
    

    For more information about Redknee, visit www.redknee.com.

    About Redknee:
    
    Redknee is a leading global provider of innovative communication software
products, solutions and services. Redknee's award-winning solutions enable
operators to monetize the value of each subscriber transaction while
personalizing the subscriber experience to meet mainstream, niche and
individual market segment requirements. Redknee's revenue generating solutions
provide advanced converged billing, rating, charging and policy for voice,
messaging and next- generation data services to more than 70 network operators
in over 50 countries. Established in 1999, Redknee Solutions Inc. (TSX / AIM:
RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and
its various subsidiaries. References to Redknee refer to the combined
operations of those entities. For more information, visit
http://www.redknee.com/
    

    Caution Regarding Forward-Looking Information:
    
    This release contains forward-looking information within the meaning of
applicable securities laws ("forward-looking statements") that relates to
deployment which is and remains subject to government and regulatory approval.
 Such forward-looking statements are not promises or guarantees and involve
known and unknown risks, uncertainties and other factors and assumptions that
may cause the actual results, performance or achievements of Redknee, or
developments in Redknee's business or industry, to differ materially from the
anticipated results, performance or achievements or developments expressed or
implied by such forward-looking statements. Such factors include, but are not
limited to: the uncertainties related to government and regulatory approval,
technological change and changes in the industry in which Redknee competes;
changing global economic conditions and uncertainties; the impact of foreign
currency exchange rates; credit and collection risk; departure of key
personnel; departures of key customers; and other risks detailed from time to
time in the Company's filings with the Ontario Securities Commission including
Redknee's Annual Information Form dated for the fiscal year ended September
30, 2007. Readers are cautioned not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
Forward-looking statements are provided for the purpose of providing
information about management's current expectations and plans relating to the
future. Readers are cautioned that such information may not be appropriate for
other purposes. Redknee does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its expectations or any
change in events, conditions or circumstances on which any such statement is
based, except as required by law.
    

    

    
    For additional information please contact:
    

    
    Media Relations Contact:
    Ashleigh Young
    Mi liberty
    +44 (0)20 7751 4444
    ayoung@miliberty.com
    

    
    Mark Yaphe, Vice President, Product Management & Marketing
    +1 905 625 2298
    mark.yaphe@redknee.com
    

    
    Nomad:
    Canaccord Adams Limited
    Ryan Gaffney/Andrew Chubb
    +44 (0) 207 050 6500
    

    
    Financial Public Relations:
    Jeremy Garcia
    Buchanan Communications
    +44 (0) 20 7 466 5000
    jeremyg@buchanan.uk.com
    

    
    Redknee Solutions:
    Colley Clarke, Chief Financial Officer
    +1 905 625 2604
    colley.clarke@redknee.com




    




For further information:

For further information: Media Relations, Ashleigh Young of Mi liberty,
+44 (0)20 7751 4444, ayoung@miliberty.com, or Mark Yaphe, Vice President,
Product Management & Marketing of Redknee, +1-905-625-2298,
mark.yaphe@redknee.com; or Ryan Gaffney or Andrew Chubb, both of Canaccord
Adams Limited, +44 (0) 207 050 6500; or Financial Public Relations, Jeremy
Garcia of Buchanan Communications, +44 (0) 20 7 466 5000,
jeremyg@buchanan.uk.com; or Colley Clarke, Chief Financial Officer of Redknee
Solutions, +1-905-625-2604, colley.clarke@redknee.com Web Site:
http://www.redknee.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890