MTN Uganda, a division of telecom giant MTN Group, has unveiled cross-border money transfer services between Uganda and Rwanda.
The service will enable customers in both countries to perform transaction via Mobile Money without the need to change currencies.
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An MTN customer in Rwanda can now transfer money in Francs to a recipient in Uganda who will receive it in Uganda Shillings. However, the receiver must also be a MTN Uganda customer.
MTN Uganda financial services general manager Phrase Lubega said: "Technology is helping us eliminate national borders, enabling a unified digital and mobile financial services world. We are delighted to offer a solution that further enhances this agenda.
"We also trust that our customers will find it easy, fast and a more convenient means of transferring funds internationally," he added.
For the first six months of the year, MTN Uganda’s mobile money subscriptions rose 12.8% to 8.2 million from 7.3 million at the end of 2014.
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