MTN Rwanda Opens Mobile Money Remittance Corridor from Rwanda to Tanzania
MTN Rwanda, the country’s largest mobile money operator, has announced that it has now opened the mobile-to-mobile remittance service between Rwanda and Tanzania. MTN Mobile Money users in Rwanda are now able to send money to Airtel Tanzania subscribers seamlessly and affordably through the MFS Africa Hub. The Hub connects mobile wallet customers across networks and countries in sub-Saharan Africa, enabling convenient and affordable mobile-to-mobile international money transfers.
Speaking about this new addition to the existing corridors, namely Uganda, Kenya and Zambia, MTN’s Chief Business and Corporate Affairs Officer, Chantal Kagame said, “Mobile Money has increasingly become a norm in Rwanda as MTN continues to extend financial inclusivity to Rwandans and enrich their individual wellbeing. We are delighted to bring the convenience of instant cross-border money transfers directly to our customers’ mobile wallets.”
To send money to Airtel Tanzania, MTN Rwanda customers will be required to dial *830# from their handsets and follow the prompts, where they will also view the equivalent amount to send based on prevailing foreign exchange rates. They will then be prompted to approve the transaction with their MoMo PIN. Upon sending they will receive a confirmation message that the transaction has gone through.
The Mobile Money ecosystem requires innovative solutions to increase financial inclusion and drive economic growth. The rise of Mobile Money transactions is the most visible evidence of this. “The MTN Mobile Money ecosystem has expanded extensively with additions such as the payment of Moto fares in partnership with Yegomoto, paying of parking fees in partnership with KVCS as well as partnering with local banks to facilitate Push & Pull services. We are now registering about Frw 130 billion in monthly transactions and we continue to lead Mobile Money in Rwanda with 1.7 million active subscribers,” added Mrs. Kagame.
The launch of regional remittance with Airtel Tanzania follows the recent reduction of MTN’s MoMo tariffs of up to 80%. Customers can now send small amounts of money, even below Frw 100, with transfer fees that start from as low as Frw 3.
“MTN Mobile Money services have brightened the lives of our customers, as well as aided in developing Rwanda’s financial infrastructure. The efficiency of regional remittance will see customers transfer money easier, faster and more conveniently across borders at a fraction of current costs”, concluded Mrs. Kagame.