Rwanda: MTN Mobile Money Now Extends to Diaspora

Mergers, Acquisitions and Financial Results

MTN Rwanda and MFS Africa today announced the launch of an online money transfer service that enables MTN Mobile Money customers to receive international remittances directly on their mobile phones.

The service referred to as MTNMMO.COM is an online facility that enables MTN Mobile Money customers in Rwanda to receive international remittances directly on their mobile phones from senders in the Diaspora. MTN Rwanda is among the first MTN operations to connect to this service.

Senders from outside Rwanda can register on the website MTNMMO.COM and send funds from their debit card or bank transfer via the internet to Rwanda by simply entering a beneficiary's mobile phone number. Funds are delivered immediately to the beneficiary's Mobile Money account in Rwanda.

While Mobile Money customers today can already send and receive money from within Rwanda, the MTNMMO.COM service for the first time enables cross-border transfers into MTN Rwanda. The service is facilitated by MFS Africa, in partnership with BCR.

"Making the connection to MTNMMO.COM to enable international remittances together with MFS Africa was high priority for us to better serve our customers, understanding their need to use their Mobile Money accounts to receive money from abroad," said Albert Kinuma, head of MTN Business. "We will continue to add new services to MTN Mobile Money, and grow our agent network, now standing at over 700 agents across Rwanda. With MFS Africa as a partner, we look forward to introducing additional products to Mobile Money in the near future."

Auke Algera, the General Manager East Africa at MFS Africa said MTNMMO.COM is the first product being launched in Rwanda by the company. "The service extends the benefits of Mobile Money to the Rwandan Diaspora," he explained. "We established ourselves in Rwanda because we are committed to deploying a range of innovative financial products for mobile money providers in the region."