The announcement that telecom giant, MTN Rwanda, will be launching mobile money service transfers, marks not only a milestone, but also cements what experts have described as a ‘telecom revolution’ in Africa.
For decades, Africa has and continues to play second fiddle when it comes to global business. In the past, large corporations interested in new business ventures have, most times, developed cold feet with regard to doing business in Africa.
But the successful penetration on the continent, of the mobile phone, more than a decade ago, and its subsequent realization of lucrative returns to telecom owners, has proved that Africa is indeed an attractive investment destination.
Now, more than ever, the continent is witnessing a significant inflow of foreign direct investments, triggered mainly by the successful rollout of telecom services across the continent.
The ease of communicating has opened up opportunities that are changing the lives of ordinary folks, especially in the rural setting.
In Rwanda, just like many other African nations, rural farmers are able to by-pass greedy middlemen and fix the right farm-gate prices by a mere exchange of a simple text message with a relative, friend or a market vendor, to figure out the prevailing market prices.
Now the focus is shifting from provision of predominantly voice services to data and more innovative services like the mobile money transfer MTN Rwanda is introducing.
The beauty about this planned service lies in its convenience and the secure means of transferring money.
This new service will ease the burden of transferring money to our business associates, relatives and friends in any part of the country.