Bank of Rwanda, MTN partner on mobile money
VALUE ADDED SERVICES| June 28, 2012, 8:18 p.m.
Bank of Kigali (BK), the largest Bank in Rwanda, has entered into a partnership with Rwanda’s leading telecoms operator MTN Rwanda to offer services under its mobile money platform.
Under the partnership, BK will offer MTN mobile money existing and new subscribers the full bouquet of mobile money services including; account opening, cash deposits, transfers and withdrawals. At present, 41 of the bank’s 56 branches are offering the services but BK will continue to roll out the service to the remaining 13 branches by the end of the year.
“This is probably the biggest partnership between a telecom and a financial institution in Rwanda. We remain committed to bringing financial services closer to the people and we believe this partnership will further expand the potential that mobile money services have on banking the unbanked,” Lawson Naibo the Chief Operating Officer, BK said.
“An estimated 45% of households in Rwanda have access to a mobile phone and MTN mobile money can leverage our extensive branch network to increase the penetration of their service, while we can capitalise on the increased footfall to bring these customers into the formal banking sector,” he added.
Naibo said BK believes that the delivery of financial services through mobile telephony is where the real innovation and development is taking place in the retail market.
MTN Rwanda’s CEO Khaled Mikkawi added: “The mobile money platform should not be seen as competition to consumer banking but instead as a catalyst to services offered by leading financial institutions like BK. Rwandans can only benefit from greater convergence between conventional banking services and the mobility that mobile telephony offers.”
MORE VALUE ADDED SERVICES NEWS
Terragon Group to unveil African-focused Mobile Advertising Technology at MWCNigeria-based Terragon Group is set to unveil its dynamic data monetisation and advertising platform, described as a first for mobile in developing markets, at MWC. Read More
MTN demonstrates the benefits of its video on demand offeringMTN showcased the benefits of FrontRow when it streamed high bandwidth video content onto multiple mobile devices using its video on demand (VOD) offering. Read More
Vodacom, Tigo agree on mobile money interoperabilityMillions of M-Pesa and Tigo Pesa customers in Tanzania will soon be able to send and receive money directly into each other’s wallets. This follows the recent signing of a mobile money interoperability agreement between Tigo and Vodacom. Read More
Airtel Ghana launches DOTGO SMS Web browsing serviceAirtel Ghana has deployed DOTGO’s SMS-based Internet service, which enables any mobile phone to be Internet-accessible without data or Wi-Fi. Read More
MoneyGram reaches 25,000 locations across AfricaMoneyGram has announced an agreement with Safaricom that enables consumers in over 90 countries outside Kenya to send funds directly to nearly 20 million customers of M-PESA. Read More
TrustPay defines new space in cashless payment, commerceTrustPay has officially launched a new range of innovative m/e Commerce merchant solutions it says are set to accelerate economic growth in developing markets. Read More
Econet launches Dial a DocEconet Wireless has launched a new service that will allow subscribers to access health advice 24/7 via a mobile phone. Read More
Multi-bank mobile money goes live in EthiopiaThe new interoperable HelloCash mobile money platform has gone live in Ethiopia, aiming to provide financial services to all Ethiopians. Read More
Mobile app makes work easier for health workersThe iAfya mobile health information app is gaining momentum in Kenya, as health workers increasingly use it to learn and to educate communities. Read More
FEATURED STORYMalawi Govt denies clinging to ‘Cashgate’ software
The Malawi Government will not exclude the software brand that has been in use for the country’s Integrated Financial Management System (IFMIS), but it has rejected reports implying that it is ‘clinging’ to the old system.
BEST READ NEWS
IN DEPTHKenya’s digital TV battle hots up
Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.
COMPANY NEWSVMware unveils vCloud for NFV with Integrated OpenStack to accelerate service innovation
VMware, the global leader in virtualisation and cloud infrastructure, today debuted VMware vCloud for NFV, an integrated Network Functions Virtualization (NFV) platform that will combine VMware’s production-proven ...