MTN Rwanda, Uganda to introduce cross-border mobile money service

10 Oct 2014

Norman Munyampundu, general manager of MTN Rwanda, has revealed that the operator will sign a partnership deal with sister company MTN Uganda this month, which will see the two cellcos integrate their mobile money systems in order to allow subscribers to send and receive money between the two countries. According to All Africa, Munyampundu hopes that the service would reduce the cost of transactions and enhance cross-border trade between Rwanda and Uganda. The executive added: ‘After establishing our presence in Uganda, we will roll out the interconnection platform across the East African Community bloc.’ Munyampundu also said that MTN Rwanda’s ‘Mobile Money’ service penetration expanded to cover 81% of the population by the end of September 2014, contributing 44% of the firm’s service revenues, with around 4.5 million subscribers at that date.

According to TeleGeography’s GlobalComms Database, MTN Rwanda invested USD2 million to deploy its Mobile Money service, which launched in February 2010. The operator is working with the Commercial Bank of Rwanda (BCR) as its partner bank. In November 2012 MTN Rwanda announced that the total volume of Mobile Money transactions had reached USD138 million, with around 20% of its overall subscriber base actively using the service. MTN Uganda, meanwhile, noted that in Q2 2013 earnings from Mobile Money contributed 11% of total service revenues.

Rwanda, Uganda, MTN Rwanda, MTN Uganda