MTN set to support money transfers between Rwanda and Uganda

Thursday, October 16, 2014

In a move aimed at warding off competition and increasing revenue collection from its mobile money service, MTN Uganda has partnered with MTN Rwanda to deliver cross border transactions between the two countries.

The service, which is expected to take off by the end of October, comes just a few months after the successful launch of a similar module by MTN Rwanda’s fierce competitor, Tigo. Tigo effected a similar model of cross border mobile money transfer among its clients within Rwanda and Tanzania, a move that has been hailed by the users as more creative, affordable and convenient.

The South African telecoms giant MTN has set the end of October 2014 as the period to integrate its mobile money system of MTN Rwanda with that of MTN Uganda, and allow subscribers to send and receive money between the two countries.

Source: Biz Tech Africa (link opens in a new window)

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alternative finance, banking, Base of the Pyramid, financial services, mobile money