MTN Rwanda will integrate its mobile money system with that of MTN Uganda this coming November. This will, according to the company, allow subscribers to send and receive money between the two countries.
MTN Rwanda GM, Norman Munyampundu stated that “The sister companies would sign a deal to that effect by the end of October. Munyampundu is optimistic that the service will reduce the cost of transactions and enhance cross-border trade between Rwanda and Uganda.”
According to New Times, MTN moved RWF 96.5 billion on its mobile money platform during the third quarter of the year, up from RWF 80 billion in the second quarter. This involved about 4.5 million subscribers compared with 3.5 million previously. According to Munyampundu, MTN Mobile Money penetration had expanded by 81 percent by end of September, contributing 44 percent of the firm’s revenues.