The waiver of fees on all mobile financial transactions by telecoms during the Covid-19 lockdown has led to fast growth in the value and number of mobile money transactions in Rwanda.
The number of mobile money transactions has since grown exponentially, hitting Rwf40.3billion ($43million) by April 19, a 485 per cent growth in value from February 16, and 397 per cent growth in transactions.
The current data shows cash-outs from mobile wallets decreased sharply since the lockdown started, and are now worth less than half of their January value.
“We have seen a significant increase in data usage and mobile payments transactions since mid-March, following the guidelines issued by the government during and after the lockdown,” MTN said in a statement.
“We have seen a spike in data, mobile payments, and voice during the lockdown.
