Rwanda: Bank of Kigali Team Up With MTN On Mobile Cash

East Africa's best 'Bank of the Year', Bank of Kigali and MTN Rwanda have come together to improve access to mobile financial services (MFS).

The two want to do this by allowing customers to move money between their MTN Mobile Money wallets and their Bank of Kigali accounts and vice versa.

MTN Rwanda, CEO, Ebenezer Asante said last week, "At MTN we continuously strive to find opportunities that make the lives of our customers smooth and simplified, and our partnership with Bank of Kigali fits in perfectly with our on-going efforts to improve access to financial services for our customers."

Access to various innovative financial services like this one under the Mobile Money platform, are also aimed at supporting the government's efforts to deepen financial inclusion in the country and promote a cashless economy.

The CEO at Bank of Kigali, James Gatera said, "The Bank remains committed to bringing innovative financial services closer to the Rwandan People. We believe this partnership with MTN will further strengthen our offering of branchless banking and financial inclusion solutions."

All MTN Subscribers who are also customers of Bank of Kigali can now have their Mobile Money wallets linked to their bank accounts.

This means they can pull money from their bank accounts onto their mobile money wallet or push money from their wallets to their bank accounts automatically.

Currently out of the 3.8 million subscribers MTN has, close to 85% of them are registered on Mobile Money and equally good number actively use the service every month which show a good contribution of MTN to a cashless economy of the country.

Bank of Kigali customers can now use the MTN service centres and MTN Mobile Money agents to first load their wallets and then push the funds from their wallets to their bank accounts.

SOURCE:EAST AFRICAN BUSINESS WEEK