MTN-mobile-money-customersMTN will next month integrate its mobile money system of MTN Rwanda with that of MTN Uganda, allowing subscribers to send and receive money between the two countries.

This was revealed by Norman Munyampundu, MTN Rwanda general manager,  who said the two sister telecoms would sign a partnership deal by the end of this month.

He said that he is optimistic the service will reduce the cost of transactions and enhance cross-border trade between Rwanda and Uganda and should be good news for traders, parents, students and travellers between the two countries.

Earlier this year, Tigo started cross-border mobile money services with its sister companies Tigo Tanzania and Tigo Rwanda.

MTN Mobile Money penetration in Rwanda expanded by 81 per cent by end of September, contributing 44 per cent of the firm’s revenues. Local telecoms have lately been seeking new avenues through which they can increase their earnings following a poor run over the past many months.

Mobile money payments increased by 94 per cent, from Rwf134.1 million end of June last year to Rwf260.7 million this year. The number of transactions increased from over 21 million to over 43.5 million during the period, according to the central bank monetary policy and financial stability statement released in August.

Source: The New Times