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
Ericsson announces Emergency Wallet to support humanitarian responseEricsson has committed to developing Ericsson Emergency Wallet, a mobile financial services solution, for deployment in the immediate aftermath of disaster or crises to support humanitarian organizations and affected populations. Read More
Hello Paisa clinches top African Fintech spot at Innotribe Start-up challengeLow cost international money transfer company Hello Paisa was named the number one Fintech Company in Africa during the SWIFT African Regional Conference in Mauritius this week. Read More
Ghanaian diaspora embrace MTN Mobile Money when sending home with WorldRemitMTN Mobile Money has become the fastest growing method of receiving WorldRemit international money transfers in Ghana. Read More
Ghana’s first mobile-based nano lending scheme launchedAirtel is partnering with Fidelity Bank and Tiaxa will provide instant access to Nano loans up to GHC 200 to Airtel customers who qualify for the service through the Airtel Money platform. Read More
Airtel, Flickswitch launches first business SIM management service in KenyaAirtel has partnered with Flickswitch International, a leading provider of self-service solutions for enterprises to launch an enterprise SIM management service in Kenya. Read More
Airtel, Facebook to launch Free Basic Services in NigeriaBharti Airtel Africa has announced that it has launched Free Basics in Nigeria in partnership with Facebook. Read More
Safaricom pays out Kshs.152m in Skiza Tunes royaltiesSafaricom Limited has released Kshs.152 million to Collective Management Organisations (CMOs) and Premium Rate Service Providers (PRSPs), for payment to artistes whose music is sold through the company’s music platform – Skiza Tunes. Read More
Opera Mini introduces native ad blocker for Android usersOpera Mini has announced the launch of its built-in ad blocking system operating on its browser for Android. Read More
SimbaPay announces single money transfer of up to $45,000 to AfricaSimbaPay says it is revolutionizing the remittance space through its official announcement of raising the single transaction limit to a whopping $45,000. This is substantially higher than the previous transaction limit of $3,000. Read More
FEATURED STORYGovernment should encourage youths in ICT early
Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSEnhancing your security posture to fight new ransomware threats
Petya ransomware is proving to be one of the top cybersecurity stories of 2016.Arbor stops malware in its tracks
There is always a substantial amount of banking trojan activity taking place, however, recent developments have intensified the threat landscape.