MTN Rwanda in partnership with banks, Microfinance institutions (MFIs) and government parastatals plans to introduce payment of loans and other bills through mobile money system.
Albert Kinuma, the Head of Mobile Money at the Nyarutarama based telecom operator said, Tuesday, that the system requires users to first register with mobile money and open accounts to facilitate the process of loan repayment and payment of other bills.
“We are now partnering with MFIs and banks to see how their clients can repay their loans and also access accounts. We are also planning by the end of this year to be partnering with all corporate bodies,” he said.
Kinuma also noted that MTN Rwanda, which is ranked second in the use of mobile money transactions in all MTN operations in the region after Uganda, will shift to first position when all corporate bodies, banks and companies would subscribe to mobile money.
“I anticipate that these bodies will encourage more people to subscribe to us so that transactions are better and efficient.”
MTN Rwanda is the country’s leading mobile phone operator with 2 million subscribers. It is the only operator providing mobile money services in the country.
The Director of Information Technology of Energy Water and Sanitation Authority (EWSA), Théogene Rukundo, told Business Times that their clients are using mobile money services to pay for their electricity bills.
“We have already started with electricity and it has been effective and efficient especially with people in rural areas, where they cannot access internet and computers, very soon we shall add water
bills payment ,“ he said.
Francis Ndayiziga, the Branch Banking Division Leader at Urwego Opportunity Bank (UOB) said this was good news because the system was convenient, modern and would reduce queues in banks.
UOB has a partnership agreement with MTN to facilitate mobile money transactions.
“We have included MTN mobile money transactions in our wallet strategies which include establishment of ATM cards; money wire transfers and this will roll out throughout our branches countrywide; this will bring innovation as we want to be a modern bank in Rwanda,” he said.
He noted that as part of the bank’s strategy to help SACCOS access banking services and stop losing their money to thieves, the bank was adding MTN mobile money to its popular mobile van banking to fully
penetrate the hard to reach areas, which most banks have avoided.