NCBA, MTN Rwanda and Huawei Rwanda have today announced that they will, through MoKash, extend support to members of the FERWACOTAMO Motorcycle Federation that have been adversely impacted by the current Covid-19 lockdown.
The federation that oversees Moto riders nationwide, has identified 7 Cooperatives namely Gecomo, Korandebe Motari, Koranumucyo Motari, Nyamocoop, Cyinyoni, Twiyubake and GCM Gatsata whose members will be beneficiaries of this initiative.
Based on FERWACOTAMO’s selection criteria of the most vulnerable households, 1,500 riders have been identified and will each receive Rwf 10,000 into their MoKash Savings Account.
Mitwa Ng’ambi, CEO of MTN Rwanda said, “We believe it is the responsibility of all organisations to assist where they can during the pandemic. With the necessary restriction on movement to curb the spread of Covid-19, we acknowledge motorists to be one of the groups most affected. In partnership with NCBA and Huawei, we saw it important to assist as much as we can. This is one of various initiatives we have put in place to support Rwandans during this difficult time.”
Accessible via MTN Mobile Money (by dialling *182*5#), MoKash is a Savings and Loan product offered by NCBA and MTN. MoKash provides 30-day term loans at 9% interest. Through MoKash, customers can also open savings accounts with interest of up to 7% per annum.
Lina Higiro, CEO of NCBA Bank Rwanda said, “The Moto is synonymous to Kigali living. In this time of crisis, it is a privilege to partner with MTN and Huawei to not only support, 1,500 Moto rider families during these challenging times, but to introduce an easy digital mobile savings option to cushion unlikely events like these in the future.”
Commenting about the partnership, Country Director of Huawei Rwanda, Mr. Toni Yangshengwan said, “We realise the need to support our fellow country people who have been hit hard by the impact of Covid-19 and take the responsibility to reach out to those we can in our capacity. I would like to thank MTN Rwanda and NCBA for this initiative and partnership, as I am sure it will help many. We encourage everyone to follow the guidelines given by the Government of Rwanda. Together, we will win.”
Thanking NCBA, MTN and Huawei, Daniel Ngarambe, Chairman of the FERWACOTAMO Association said, “We are humbled, and deeply appreciative by the generosity and tripartite partnership formed to support our most vulnerable members through this difficult time.
NCBA, MTN and Huawei remain committed to stand ready to leverage their core expertise, technology and infrastructure to support and align their interventions and responses with the efforts of the Government of Rwanda to contain and mitigate the spread of Covid-19.
About NCBA Bank Rwanda PLC
NCBA Bank Rwanda PLC is a full-service bank providing a broad range of financial products and services to corporate, institutional, SME and consumer banking customers. NCBA Rwanda is part of NCBA Group PLC that was created on 1st October 2019 following the merger of NIC Group PLC (NIC) and Commercial Bank of Africa Limited (CBA). NCBA Group operates a network of more than 100 branches in five countries including Kenya, Uganda, Tanzania, Rwanda and Ivory Coast. Serving over 50 million customers, the NCBA Group is the largest banking group in Africa by customer numbers.
About MTN Rwanda:
MTN Rwanda is the market leader in the mobile telecommunications industry in Rwanda. Since 1998, MTN Rwanda has continuously invested in expanding and modernizing its network and is now proudly Rwanda’s No 1 Internet Network. MTN Rwanda offers superior services to its subscriber base, including innovative propositions such as personalized voice and data offers with MTN Irekure. The company is also the front runner in Mobile Financial Services in Rwanda with Mobile Money, MoMoPay and MoKash Loans and Savings.
About Huawei Rwanda:
Huawei is a multinational networking, telecommunications equipment and services company with its Head Quarter in Shenzhen, China. Huawei is a top technology company in the world and majors in different business groups that include carrier, enterprise and consumer business group. Huawei Rwanda is a registered entity in Rwanda and has been in operation since 2008 and has since been enhancing technological development by working with both private and the Government of Rwanda in different fields.
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