MTN Group and Vodafone Group have signed a Memorandum of Understanding to interconnect their mobile money services, which will allow customers of M-Pesa and MTN Mobile Money in East Africa to be able to transfer money to each other. The collaboration between the region’s two biggest mobile money operators will enable international remittances between M-Pesa customers in Kenya, Tanzania, Democratic Republic of Congo and Mozambique, and MTN Mobile Money customers in Uganda, Rwanda and Zambia.
M-Pesa service which was launched in March 2007 boasts approximately 19.5 million active customers as at 31 December 2014 and approximately 250,000 agents worldwide.
Michael Joseph, Director of Mobile Money, Vodafone
Our agreement with MTN to connect our mobile money wallets in East Africa is a fantastic example of co-operation and interoperability between competing mobile operators. By working together, we will deliver cheaper, faster money transfers, improving the lives of many people living in the seven countries involved.
Serigne Dioum, Group Head of Mobile Financial Services, MTN
After successful launches in Ivory Coast and Benin in West Africa, we are looking enthusiastically at the collaboration with Vodafone in East Africa. Together, we aim to build a scalable model that will accelerate remittance roll-out across the continent.
