Behind the growth of Rwanda’s mobile money platforms

At a time when there is the increased need for cashless transaction, there is a renewed hunger for the growth of mobile money platforms. But what can the telecoms do to bring about renewed trust and usage of these mediums. CNBC Africa's Arnold Kwizera spoke to the Head of Airtel Money, Jidia Gasana for more.

Wed, 18 Mar 2020 11:06:27 GMT

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AI Generated Summary

The acquisition of TIGO by Airtel has played a significant role in expanding mobile money services to rural areas, boosting awareness and utilization among a wider customer base.
The government's initiatives promoting cashless payments, in tandem with telecom companies' efforts to educate and support customers, have contributed to the increasing adoption of digital financial services in Rwanda.
Collaborative engagement with banks has transformed telecom firms into partners in financial inclusion, offering a diverse range of products like savings accounts and microloans to cater to the evolving needs of consumers.

Rwanda's mobile money platforms have witnessed significant growth in recent years, particularly in the rural areas, as telecom companies like Airtel Money make strides in enhancing trust and usage among consumers. Jidia Gasana, Head of Airtel Money, highlighted the company's strategy in a recent CNBC Africa interview, shedding light on the key factors driving the success of mobile money in Rwanda. The country's transition towards a cashless economy has created a surge in demand for convenient and secure digital payment solutions, with mobile money emerging as a favored option. Gasana emphasized the pivotal role of awareness, education, and partnerships in fostering trust and adoption of mobile money services, particularly in rural communities. Airtel's acquisition of TIGO has expanded its reach to remote areas, leveraging a vast network of agents to educate and assist customers in using mobile money effectively. The government's push for cashless payments, exemplified by initiatives like Ezrohezza, has further boosted the uptake of digital financial services in Rwanda. Additionally, collaborative efforts with banks have positioned telecom companies as partners rather than competitors in the financial ecosystem. By offering innovative products such as savings accounts and microloans, telecom firms complement traditional banking services, catering to the diverse financial needs of consumers. With a seamless integration of services and a focus on customer convenience, mobile money platforms in Rwanda continue to evolve, driving financial inclusion and accelerating the country's digital transformation.