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September 8, 2015updated 04 Apr 2017 4:01pm

MTN rolls out money transfer services between Uganda and Rwanda

MTN Uganda, a division of telecom giant MTN Group, has unveiled cross-border money transfer services between Uganda and Rwanda.

By Verdict Staff

MTN Uganda, a division of telecom giant MTN Group, has unveiled cross-border money transfer services between Uganda and Rwanda.

The service will enable customers in both countries to perform transaction via Mobile Money without the need to change currencies.

An MTN customer in Rwanda can now transfer money in Francs to a recipient in Uganda who will receive it in Uganda Shillings. However, the receiver must also be a MTN Uganda customer.

MTN Uganda financial services general manager Phrase Lubega said: "Technology is helping us eliminate national borders, enabling a unified digital and mobile financial services world. We are delighted to offer a solution that further enhances this agenda.

"We also trust that our customers will find it easy, fast and a more convenient means of transferring funds internationally," he added.

For the first six months of the year, MTN Uganda’s mobile money subscriptions rose 12.8% to 8.2 million from 7.3 million at the end of 2014.

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