MTN & Vodafone Interconnect Their Mobile Money Services

Tuesday, April 21, 2015

In a move focused at deepening financial inclusion in East Africa, MTN and Vodafone have agreed to intersect their mobile money services.

Customers of mobile money platform M-Pesa in Kenya, Tanzania as well as Democratic Republic of Congo (DRC) and Mozambique together with MTN clients in Uganda, Rwanda and Zambia will now be able to transact money directly to each other.

“Our agreement with MTN to connect our mobile money wallets in East Africa is a fantastic example of co-operation and interoperability between competing mobile operators,” Vodafone director of mobile money Michael Joseph said in a statement.

The partnership between two of the largest telecommunication firms in Africa, is expected to deliver cheaper and faster money transfers in the region. This is expected to improve the lives of many people in the countries involved as well as foster the growth of these economies.

Source: CNBC Africa (link opens in a new window)

financial inclusion, telecommunications