MTN Rwanda will dedicate this year’s Mobile Money Month to support efforts towards financial inclusion. Speaking at the launch of the 2017 edition of its annual event, Norman Munyampundu, the chief business officer at MTN, said the campaign conducted under the theme, "Let us go cashless” is designed to further deepen Rwanda’s national agenda of promoting a cashless economy.

"The campaign is expected to deepen awareness and educate Rwandans about the benefits of using MTN Mobile Money and hence increase the uptake of subscribers on the platform,” he told The New Times in an interview.

According to Munyampundu, MTN Mobile Money transfer service has seen a steady positive growth since its inception eight years ago.

"The service was introduced as a way of enabling digital transactions. Since then customer behaviour has changed steadily toward using more innovative services such as bill payments, the Push&Pull service, mobile loans  and  savings, as well as bulk and small payments for electricity or water bills, and payment for goods and services,” he said.

He added that the telecom firm has decided to revisit last year’s theme on going ‘cashless’ because the mobile money transfer service presents subscribers immense benefits and opportunities, including lower risks for individuals and banks associated with moving paper cash.

The official said the service has increased options for customers as it enables them to pay for goods and services digitally and on the move, which is also convenient and secure. Munyampundu said during the period the telecom firm will conduct various activities and promotions geared at enhancing customer knowledge about its mobile money transfer service to increase usage of subscribers.

Regional transaction charges cut

Over the coming month, subscribers will enjoy a 50 per cent reduction on regional remittance to Uganda, Kenya and Zambia, while Push&Pull services with various partner banks will be free, according to Munyampundu.

Also lined up are the activations of new users and promotions to reward existing customers.

MTN has seen a steady growth in the number of Mobile Money subscribers to  about 1.3 million who make an estimated 12 million transactions monthly worth Rwf89 billion, according to recent figures by the telecom firm.

It has also indicated that mobile money contributes up to 14 per cent of the company’s total revenues and remains one of the major growth areas in the sector.

Last week, MTN Rwanda signed a partnerships deal with Cogebanque where the bank customers will be able to deposit and withdraw money electronically using their mobile devices using the telecom firm’s Push&Pull service.