MTN Rwanda, the country’s largest mobile money operator, has recently announced that it has opened the mobile-to-mobile remittance service between Rwanda and Tanzania.
MTN Mobile Money users in Rwanda are now able to send money to subscribers of Airtel Money, Tanzania’s second largest mobile money service provider.
Already in early 2014, the customers of Tanzania’s Tigo Pesa became able to send and receive money from Rwanda’s Tigo Cash subscribers, with instant currency conversion.
Tanzania Mobile Money
According to the Bank of Tanzania (BOT) Monetary Policy Statement of June 2018, during the period July 2017 to April 2018, utilization of interoperability capability in mobile money services grew to 80.7 million transactions worth TZS 3,3 trillion, representing a 104.7% increase in volume and 78.9% in value compared to the corresponding period of 2016/17.
There are 6 mobile money providers in Tanzania: Vodacom with M-Pesa (43% market share), Tigo with Tigo Pesa (36%), Airtel with Airtel Money (17%), Halotel with Halotel Money (3%), Zantel with Ezy Pesa(1%), and TTCL (0.04%).