MasterCard has announced its expansion into seven new markets across Central and West Africa, increasing its acceptance footprint across the continent and securing a number of strategic agreements. The addition of Chad, Central African Republic, Guinea-Bissau, Liberia, Sierra Leone, Rwanda and The Gambia to the MasterCard network extends the company’s presence to 48 of the
Tigo, a subsidiary of Millicom, has announced the launch of a cross-border mobile money remittance service between Tanzania and Rwanda, allowing its subscribers to send money from one country to another via their Tigo mobile money accounts. The system integrates currency conversion, whereby money is sent in either Tanzanian shillings or Rwandan francs and delivered
Guaranty Trust Bank plc (GTBank) has now concluded the acquisition of a 70% stake in Fina Bank Group, after securing the required regulatory approvals in the 3 East African countries – Kenya, Rwanda, Uganda as well as in Nigeria. GTBank acquired a 70% stake in Fina Bank Group through a combination of capital injection as
Rwandan startup MERGIMS is aiming to provide a method for African diaspora to pay for products and services for their families in their home countries, minimising the need for expensive person-to-person money transfers. Co-founders Muhire Louis-Antoine and Niyo-Mugabo Gilbert pride themselves on their low customer levies, claiming to charge less than half of what international
Ericsson announced that MTN Rwanda has deployed its Converged Wallet m-commerce solution. The launch brings easy-to-use, next-generation mobile financial services to MTN Rwanda’s subscribers, including mobile phone users that do not have access to traditional banking services. Ericsson is providing the operator with a flexible, reliable and efficient m-commerce solution that includes Ericsson Converged Wallet,
Bank of Kigali Limited, the largest bank in Rwanda has received an e-Payment Gateway from iVeri Payment Technologies, a provider of multi-channel e-payment solutions, making it the first bank in Rwanda to acquire e-Commerce merchant transactions. The iVeri Payment Gateway software will allow merchants in Rwanda to offer e-commerce services through their websites, a service
