M-Pesa customers now able send money to Uganda
29 December 2015, 12:22
Nairobi - Mobile subscribers in Kenya and Uganda can now easily send money to each other through M-Pesa after Safaricom entered into partnership with MTN.
The new partnership between the giant mobile operators in Kenya and Uganda is expected to greatly boost trade between the two countries, as over 22 million Kenyans use M-Pesa while MTN on the other hand has 5 million customers who use their Mobile Money transfer in Africa.
Betty Mwangi, the Safaricom Financial Services Director while making the announcement on Monday said this is the third M-Pesa International Money Transfer service in the region, following similar partnerships signed with Vodacom (Tanzania) and MTN (Rwanda).
“This is yet another affirmation of our intention to make it possible for our individual and business customers to enjoy convenient, affordable and reliable mobile money services across the borders,” said Mwangi.
“This move by the Private Sector complements economic initiatives spearheaded by the East African Community Heads of State,” she added.
Phrase Lubega, the General Manager Mobile Financial Services for MTN said their subscribers will from now henceforth be able to cash out at any of the 55 000 agents across the country.
“We are excited to offer affordable remittance services from M-Pesa to MTN Mobile Money users in Uganda,” said Phrase Lubega.
Customers who want to access the service will be required to dial *840# and follow the prompts. The funds will be sent in Kenyan shillings and received in Ugandan shillings, based on the prevailing exchange rate as at midnight.
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