MTN mobile customers can now make transactions with Safaricom users and vice versa which will make it easy and cheaper for Ugandan mobile customers to send money to Kenya or Kenyan mobile customers to send money to Uganda as well.
This move by the private sector complements economic initiatives spearheaded by the East African Community heads of state, Uganda is one of Kenya’s top trading partners and the pact is not only expected to increase trade between the two nations, but also to offer cheaper remittance services.
MTN Uganda customers will be able to make mobile money transactions with Safaricom’s more than 22 million M-Pesa users.
The funds will be sent in Kenyan shillings and received in Ugandan shillings, based on the prevailing exchange rate. This partnership comes months after Safaricom roped in Vodacom Tanzania and MTN Rwanda to introduce cross-border transaction between customers on the respective networks.
Via: iconzmag
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