New milestone in East Africa Mobile Money sector

MTN Rwanda CEO, Gunter Englin

MTN Rwanda CEO, Gunter Englin

From PHYLLIS BIRORI in Kigali, Rwanda

ABUJA, (CAJ News) – IN another exciting development in the region’s mobile money innovation, subscribers can now send and receive money seamlessly between Kenya and Rwanda.

MTN Rwanda announced it has opened its corridor with Safaricom in Kenya that will see MTN Mobile Money and M-PESA carry out such transactions between the two countries.

MTN Rwanda CEO, Gunter Engling, said the service would enable convenient and affordable regional remittances.

“We are determined to strengthen the path we are taking towards financial inclusion in Rwanda and I believe that this new partnership will be a powerful driver of economic growth,” Engling said.

He said they were witnessing huge technological changes that have the potential to usher in a new era of financial inclusion which they were determined to be a part of.

Serigne Dioum, MTN Group Head of Mobile Financial Services, said the launch marked a key milestone in the realisation of their partnership with Vodafone.

Wherein, they aim to build a scalable model that will accelerate remittance roll-out across Africa.

“We expect considerable volumes on this corridor, as it will leverage successes of MTN Mobile Money in Rwanda and Uganda, and M-PESA in Kenya,” said Dioum.

Betty Mwangi, Director – Financial Services at Safaricom, said this initiative would not only be of benefit to the customers who may need to send money between the two countries.

“It will also provide a reliable and affordable way for businesses to transact, thereby helping grow the East African economy,” she said.

The partnership comes a month after MTN introduced cross-border transactions between MTN Rwanda and MTN Uganda, as a move aimed at  deepening financial inclusion and boosting regional trade.

CAJ News

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Posted by on Oct 15 2015. Filed under Africa & World, Broadband, Exclusive, Featured, Finance, Finance & Banking, Mobile & Telecoms, National, Regional, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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