MTN Rwanda has unveiled a mobile-to-mobile remittance service between the country and Tanzania. This will enable Mobile Money users in Rwanda to send money to Airtel Tanzania subscribers through the MFS Africa Hub.
The hub connects mobile wallet customers across networks and countries in sub-Saharan Africa, enabling convenient and affordable mobile-to-mobile international money transfers.
“We are proud to enable low-cost digital remittances between Rwanda and Tanzania with partners,” MFS Africa Hub stated.
Speaking about this new addition to the existing corridors, namely Uganda, Kenya and Zambia, MTN’s Chief Business and Corporate Affairs Officer, Chantal Kagame, said mobile money had increasingly become a norm in Rwanda as MTN continued to extend financial inclusivity to Rwandans and enrich their individual wellbeing.
“We are delighted to bring the convenience of instant cross-border money transfers directly to our customers’ mobile wallets,” Kagame said.
The mobile money ecosystem requires innovative solutions to increase financial inclusion and drive economic growth.
The MTN mobile money ecosystem has expanded extensively with additions such as the payment of Moto fares in partnership with Yegomoto, paying of parking fees in partnership with Kigali Veterans Cooperatives Society (KVCS) as well as partnering with local banks to facilitate Push & Pull services.
MTN is now registering about Frw 130 billion (about US$149 million) in monthly transactions. It continues leading mobile money in Rwanda with 1,7 million active subscribers.
The launch of regional remittance with Airtel Tanzania follows the recent reduction of MTN’s MoMo tariffs of up to 80 percent. Customers can now send small amounts of money, even below Frw 100, with transfer fees that start from as low as Frw 3.
Kagame said MN mobile money services had brightened the lives of customers, as well as aided in developing Rwanda’s financial infrastructure.
“The efficiency of regional remittance will see customers transfer money easier, faster and more conveniently across borders at a fraction of current costs.”