Mobile money uptake soars in Rwanda

MTN Rwanda has recorded over 1 million active Mobile Money users.
The customers make over 7 million transactions per month, with a monthly transaction value of Rwf 70 billion (US$86 million) on the platform.
The milestone is attributed to the introduction of innovative products that have improved the value perceptions with customers.
Such include the newly-launched MTN Tap &Pay service, the Mobile Money Month, as well as increased mobile phone penetration in the country contributing to the growth of active customers.
MTN Rwanda Chief Executive Officer, Bart Hofker, says Mobile Money demonstrates the demand for easy-to-use, safe and affordable payment options.
“We are delighted by the current success of MTN Mobile Money but we will continue to press on for even stronger performance and growth.”
MTN Mobile Money enables users to perform local and international money transfers, make utility and other service payments, purchase airtime and access a range of other mobile financial products.
The World Bank singles out mobile money services as the major factor behind the increase in account holders in sub-Saharan Africa, hence deepening financial inclusion.

SOURCE:CAJNEWS