Rwandatel to launch mobile banking in late-2009 (Rwanda)
Rwandatel, the Libyan-owned mobile operator is planning to launch a mobile banking and cash transfer system as a part of its investment strategy worth $45 million to be based in Rwanda in 2009. The technology is likely to be launched in October enabling its users to send and recieve money internationally via SMS text messages, says CFO Patrick Kariningufu, targeting specially the rural customers. “You can be able to send your money to your mother sitting far away in the forest or wherever and when you run out (of credit), based on your credit facility, you (also) have the possibility to have a loan up to a certain level.” Kariningufu reportedly said.
