M-PESA users will now be able to send money to Uganda following a partnership between Safaricom and the neighbouring country’s leading operator MTN.
Safaricom’s Director of Financial Services Betty Mwangi said that the move is in a bid to enable individual and business customers enjoy convenient, affordable and reliable mobile money services across the borders.
“This move by the Private Sector complements economic initiatives spearheaded by the East African Community Heads of State,” she added.
This becomes the third M-PESA International Money Transfer service in the region, following similar partnerships signed with Vodacom of Tanzania and MTN of Rwanda, earlier in the year.
According to Capital FM, the partnership is expected to benefit over 22 million M-PESA customers and the more than 5 million customers who use MTN Mobile Money in Africa.
Uganda is Kenya’s largest trading partner in the region, and this partnership is expected to be a major boost for businesses while at the same time benefitting the over 22 million M-PESA customers and the more than 5 million customers who use MTN Mobile Money in Africa.
“We are excited to offer affordable remittance services from M-PESA to MTN Mobile Money users in Uganda,” said Phrase Lubega, General Manager- Mobile Financial Services for MTN Uganda. “Our subscribers will be able to cash out at any of our 55,000 agents across the country.”