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Unguka Bank, MTN Rwanda partner in ’Mobile Money’ venture

Published on: 17-12-2012 - at: 10:23'

NYARUTARAMA-MTN Rwanda and Unguka Bank announce a business partnership that will allow subscribers on the MTN Mobile Money platform make transactions from any of the fourteenUnguka Bank branches.

Unguka Bank is already established in Rwanda with five branchesKigali and the other largely concentrated in the Northwestern part of the country. The partnership with Unguka means that the financial institutionnow joins the many othersthat are already partnering with MTN as Mobile Money agents.

MTN Rwanda already has similar partnerships with a number of other financial institutions that includeAgaseke, Amasezerano, Duterimbere, Rwanda Micro-Finance, Clecam, Coojad and some Umurenge SACCOs, specifically in Mahoko, Kigeyo, Mushubati and Nyaruguru.

“The partnership means Unguka will offer the service on behalf of MTN in return for an agreed commission. This bank comes on board to reinforce the existing channel of agents giving our clients more options and outlets to make transactions,”said Albert Kinuma the Ag General Manager MTN Business said.

“Unguka being a commercial bank makes it even more likely that clients will be assured of making any volumes of transactions. They wouldn’t at all have any cash shortage issues as may be the case with ordinary Mobile Money agents,”he added. According to the Managing Director of Unguka Bank.

As MTN Rwanda’s Mobile Money platform grows Kinuma added that the future is bright and exciting, with several innovative services in the pipeline.

Currently there are 440,000 registered subscribers on the MTN Rwanda Mobile Money. Since its launch in February 2010 MTN Rwanda’s Mobile Money has transacted over $90 million (Rwf54 billion).

By, April 2012

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