Planned roll out across whole of Africa.
Vodafone Group and MTN
Group signed a deal to interconnect their mobile money services in East Africa.
The venture will allow M-Pesa customers in Kenya, Tanzania, Democratic
Republic of Congo and Mozambique and MTN Mobile Money users in Uganda, Rwanda
and Zambia to transfer money between the two services.
MTN Group and Vodafone Group's Memorandum of Understanding also said
the enterprises would share best practice and work together to define the rules
and standards of mobile-based remittances in Africa.
Michael Joseph, Vodafone's Director of Mobile Money, said: "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, MTN's Group Head of
Mobile Financial Services, said: "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."
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