A press release by Safaricom has announced that Kenyan M-Pesa users can now send funds to recipients in Uganda thanks to a partnership with mobile operator MTN.
M-Pesa is a mobile phone based money transfer service which was launched in 2007 by Vodaphone for Safaricom and Vodacom – the largest mobile telecommunication services in Kenya and Tanzania. Since its launch it has spread to another 6 African countries and 2 European countries.
A statement issued by Betty Mwangi, Safaricom’s director of financial services, said “This move by the private sector complements economic initiatives spearheaded by the East African Community Heads of State”.
“We are excited to offer affordable remittance services from M-Pesa to MTN mobile money users in Uganda,” Phrase Lubega, General Manager of mobile financial services for MTN Uganda. “Our subscribers will be able to cash out at any of our 55,000 agents across the country.”