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15 October, at 08 : 52 AM Print
In another development in mobile money innovation, MTN Rwanda, leader has announced that it has opened its corridor with Safaricom in Kenya that will see MTN Mobile Money and M-PESA users send and receive money seamlessly and affordably between the two countries.
This comes just a month after the Company introduced cross-border transactions between Rwanda and Uganda as a move aimed at deepening financial inclusion and boosting regional trade.
Speaking about both partnerships with MTN Uganda and Safaricom, MTN Rwanda CEO Gunter Engling said that the service will enable convenient and affordable regional remittances.
“We are determined to strengthen the path we are taking towards financial inclusion in Rwanda and I believe that this new partnership will be a powerful driver of economic growth,” he said. “We are witnessing huge technological changes that have the potential to usher in a new era of financial inclusion which we are determined to be a part of.”
“This initiative will not only be of benefit to the customers who may need to send money between the two countries, but will also provide a reliable and affordable way for businesses to transact, thereby helping grow the East African economy”, said Betty Mwangi, director – financial services at Safaricom.
Speaking about this service, Kenyan High Commissioner to Rwanda, John Mwangemi said, “Regional remittances is another important milestone towards our regional integration agenda. Launching this regional mobile transfer will go a long way in promoting trade within the East Africa region.”
Denis Karera, chairman of the East African Business Council also welcomed the drive of East Africans to make the ease of doing business possible.
“I laud MTN’s partnerships in enabling financial inclusion and providing access to basic mobile financial services across the region. An important enabler of doing business is money, and by providing time and cost efficient ways of transferring money, this eases ways of doing business and also strengthens the One Area Network initiative.” he said.