PSF Rwanda, in partnership with MTN to scale up adoption of cashless economy

Rwanda’s trade organisation, the Private Sector Federation (PSF) has partnered with the local unit of MTN to jointly promote the use of mobile money services in the country.

The organisation, which represents small- and medium-sized businesses in the nation, will promote cashless payments at its forthcoming expo industry event. It will also work with the operator on education programmes for business owners and provide training and advisory services on adopting cashless solutions. The initiation aims at Customers transacting without the use of cash, but rather using their mobile wallet.

Speaking on this, MTN CEO, Bart Hofker said “With this partnership between MTN Rwanda and the Private Sector Federation (PSF), we hope to achieve an extra push towards realizing the vision of a cashless economy for Rwanda and financial inclusion for all Rwandans.”

The key to success is the adoption of Mobile Money as an alternative to cash by small and medium sized businesses.”

The partnership aims to change status quo such that mobile money can be used to purchase all products available on the market.

Businesses will be able to send money to neighbouring countries to enable them to clear their goods without moving from Rwanda and vice versa.

Typically, this move was, among other things, informed by Private Sector Federation’s (PSF), realisation of the benefits of the digital economy for innovation, growth and social prosperity.

As technology evolves and market conditions change, the partnership aims at bringing forth more customised solutions to allow more transactions to ease and improve doing business in Rwanda and beyond.

This is in line with the Africa Continental Free Trade Area agreement that was signed last year in Kigali by African Heads of States.

Chief Executive Officer, PSF, Stephen Ruzibiza, said the development has been necessitated by the need to remain relevant at a time when cashless economy trends are picking up.

“It is imperative for us to be active and innovative if we are to achieve the impact of a cashless economy. We want to be part of this journey and we hope with the new partnership with MTN Rwanda will be a great kick-off point to drive this initiative forward,” Ruzibiza said.

He added further: “MoMo Pay and Ticketing solution is expected to be launched during the 22rd Rwanda International Trade Fair (RITF), which is kicking off from July 22, to August 11, 2019, known as EXPO.

Following that; Visitors, buyers and sellers will be encouraged to use MTN Mobile Money not only to pay for their entrance tickets, but also use their Mobile Money wallets to pay for products and services at the Expo.

Exhibitors will be able to push their day to day sales collection to their respective bank accounts at no cost.

The exhibition is expected to attract about 450,000 visitors from over 20 countries across the world.

PSF and MTN will also run an educational campaign countrywide and through different communication channels.

Similarly, MTN staff and the PSF Staff will be at the Expo grounds to facilitate visitors. In addition leading businesses, public institution supporting the private sector growth and also foreign exhibitors and SMEs, will be in attendance, to explore how the cashless system enhances service delivery and ease of doing business all through the event.

In furtherance to the partnership, it also includes trainings and workshops on the usage of Mobile Money, assistance in acquiring the required technologies, extension of usage of the technology in day to day businesses even after the Expo, as well as providing the advisory services where required.