Bank of Rwanda, MTN partner on mobile money


Image: By BiztechAfrica
Bank of Rwanda, MTN partner on mobile money

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.”


Share the News

Get Daily Newsletter

comments powered by Disqus


Tigo upgrades Self-Care app

With its commitment to forefront technology and develop solutions to serve customers better, Tigo Ghana has upgraded its channels to provide customers with easy access to all of their communication needs on-the-go. Read More

Firm develops Tsaboin Traffic Talk to address city gridlock

Management of Nigeria’s biggest traffic monitoring site, Tsaboin Traffic Talk, has restated its commitment towards easing the challenge of traffic gridlock experienced by road users in Lagos State. Read More

Safaricom aims for 30% more Lipa Na M-PESA transactions

Safaricom has announced that it plans to increase usage of Lipa Na M-PESA by 30% throughout the financial year, as it steps up its plans to grow cashless transaction space. Read More

MTN launches e-Health service in Cameroon

A new MTN mobile health platform authorised by Cameroon’s Ministry of Public Health and exploited in partnership with the Cameroon National Medical Council is expected to improve access to health services in Cameroon. Read More

KCB signs deal with GoSwiff to embed its Cashlite agenda

KCB in conjunction with GoSwiff - a global mobile commerce and marketing solutions provider- have unveiled a strategic deal to offer a new mobile payment facility targeting Kenyan merchants. Read More

Orange Money launches mobile crowdfunding

Orange is launching Africa's first mobile crowdfunding platform in Côte d'Ivoire: Orange Collecte. Read More

MTN zero-rates FrontRow data usage

MTN subscribers are in for an entertainment treat following the announcement by MTN that it has zero rated the data usage for streaming content on FrontRow. Read More

Orange postpaid customers to pay bills online

Orange Telkom Kenya post paid subscribers are now able to pay their monthly bills online. Read More

TransUnion launches Nipashe credit checking solution for Kenya

TransUnion has launched an innovative new SMS short code solution that enables consumers in Kenya to easily access their credit information.  Read More

Orange Money Botswana tops 300,000 subscribers

Orange Money Botswana has announced that its customer numbers have reached the 300, 000 mark. Read More


Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika


Innovative designer takes e-waste to another levelInnovative designer takes e-waste to another level

Gladys Muyenzelwa is a Gaborone based artist and designer who has an eye for ethnic and contemporary design. But unlike other designers, Muyenzelwa has found a way of using e-waste to make her creations. 


High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.