Mobile money taking off in Rwanda – report
Central bank documents an increase in both users and volume of transactions
The National Bank of Rwanda recorded a significant increase in the use of mobile payment infrastructure for retail payments in 2017, according to data released in its most recent financial stability report.
Published on March 7, the report documents an 18% increase in the number of mobile account users, taking the total to 1.15 million. Ten banks and one microfinance institution currently offer mobile banking services in Rwanda.
In addition to an increase in users, the central bank also
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