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Wireless

Rwandan mobile money transactions grow 450% in 4 months

Tuesday 26 May 2020 | 10:20 CET | News
The value of funds transferred via mobile money grew by 450 percent between January and April to RWF 40 billion, the New Times reported citing data from Rwanda Utilities Regulation Authority. There was a sharp decline in use of cash to pay for goods and services, a development that the government has been pursuing for years. The Central Bank and local telecom operators temporarily removed charges for transfers between bank accounts and mobile wallets, mobile money transfers as well as merchant fees for contactless transactions, to reduce Covid-19 transmission.  

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Categories: Mobile & Wireless
Countries: Rwanda
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