If you’ve ever paid for airtime using your phone, sent money to a friend, or received payment via MTN Mobile Money, then you’ve used a mobile wallet—also known as e-money or e-wallets.

In Rwanda, mobile money isn’t just convenient. It’s essential.

Thanks to platforms like MTN MoMo and Airtel Money, mobile money has revolutionised how people manage their finances, especially those without access to traditional banks.

As of 2024, over 73 per cent of adults in Rwanda use digital financial services, a massive leap from just 30 per cent four years prior.

But beyond the basics, how well do you understand these tools, and are you using them to your full advantage?

What Is Mobile Money?

Mobile money (m-money) is a way to store and transfer money using your mobile phone. Your phone number becomes a virtual account that lets you: