Tigo Rwanda is the second mobile company to launch such a service after South Africa-based MTN's local unit launched its mobile money product in February 2010, acquiring about 260,000 subscribers by March this year.
Rwanda's rural areas have limited access to financial services, with the central bank saying only 1.7 million deposit accounts had been registered by December 2010 out of a population of 9 million.
With about 3.3 million mobile subscribers shared between MTN and Tigo as of January this year, Rwandan mobile users can utilise the technology to deposit and withdraw money and can pay electricity bills and school fees via text messages.
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