MTN Rwanda has announced the launch of its 'Mobile Money' service, targeting 100,000 subscribers in 2010, local daily The New Times reports.
MTN invested USD2 million in the implementation of its new offering, which enables customers on the MTN network to carry out financial transactions using their wireless handset through the 120 agents nationwide appointed by the operator. The service also allows non-subscribers of MTN to receive money.
Khaled Mikkawi, CEO at MTN Rwanda, commented: ‘We have a network reaching over 90% or the population and it is only right that we leverage this coverage for a common good product that will go a long way in the financial deepening of the Rwandan economy.’
MTN Rwanda is working with Commercial Bank of Rwanda (BCR) as the partner bank for its mobile money service.