MTN Rwanda celebrates 1 million active Mobile Money users

MTN Rwanda has announced yet another milestone by recording over one million active Mobile Money users.

The strong take-up by customers is mostly attributed to the introduction of innovative Mobile Money products that have improved the value perceptions with customers such as the newly launched MTN Tap&Pay service, the exciting offers during the Mobile Money Month, as well as increased mobile phone penetration in the country contributing to the growth of active customers.

Speaking about this great achievement, the newly appointed CEO Bart Hofker said that Mobile Money transfers have become popular due to low transfer costs, convenience and low risk factors associated with cashless transactions.

“Mobile Money demonstrates the demand for easy-to-use, safe, and affordable payment options. We are delighted by the current success of MTN Mobile Money, but we will continue to press on for even stronger performance and growth.”

MTN Rwanda has indicated that Mobile Money contributes to 10 percent of the total revenue generated. Mobile Money remains one of the major growth areas of financial transactions in the country as more people join the network. In addition to having over 1 million active Mobile Money users, these customers make over 7 million transactions per month, with a monthly transaction value of Rwf 70 billion on the platform.

“We will carry on providing forward-looking solutions to enhance customers’ day-to-day financial experiences. We will continue to innovate and enter into partnerships with public and private sector organisations that will push MTN Mobile Money to great heights,” added Mr Hofker.

MTN Mobile Money enables users to perform local and international money transfers, make utility and other service payments, purchase airtime and access a range of other mobile financial products. The World Bank report singles out mobile money services as the major factor behind the increase in account holders in sub-Saharan Africa, hence deepening financial inclusion.

MTN Rwanda has accorded the success and growth of Mobile Money services to the loyalty and commitment of its customers, proving that communication companies can play positive roles in empowering individuals. The one million active customer base still remains unprecedented in the country. 

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