The service dubbed 'Mobile Money' enables one to make a financial transaction using a mobile phone or any mobile device with SIM card technology. The process is secure and less time consuming. Once one has loaded money on their 'Mobile Money' accounts it can be sent from within the comfort of your home, car or anywhere with an MTN network.

Kigali — MTN Rwanda has finally launched the much anticipated 'Mobile Money' product targeting 100,000 subscribers in 2010.

The product of which MTN spent over $2 million to implement was launched yesterday at MTN Center in Nyarutarama. It will enable all customers on the MTN network sign up and begin transacting at will through the 120 agents that have been appointed.

The agents according to MTN officials are located across the country. Those who are not on the MTN network are also beneficiaries of this product as they can also receive money.

Benefits of MTN Mobile Money include sending and receiving money wherever from the convenience of ones mobile phone. Beneficiaries can also buy airtime for themselves.

Khaled Mikkawi the CEO MTN Rwanda described the launch as one of the most innovative initiatives that has been made available to Rwandans in recent times