Rwandatel plans launch of mobile banking

12 Jan 2009

Libyan-owned telco Rwandatel plans to introduce mobile banking and a cash transfer system in October 2009, writes Reuters. The technology will allow users to send and receive money via SMS, as well as withdraw and deposit cash from small shops and kiosks around the country. Rwandatel launched its wireless service in December 2008 and has already gained 140,000 subscribers, stealing a 15% stake in the wireless market from sole rival MTN.

Rwanda, Rwandatel