This comes amid the looming coronavirus pandemic which has ravaged most of the neighbouring countries among them; Kenya, DR Congo and Tanzania.
MTN CEO Win Vanhellepute says the decision that will last 30 days follows a discussion with the central bank and other bank partners to encourage the use of mobile money as opposed to using the physical cash which can likely transmit coronavirus.
Vanhellepute meanwhile says there will be no charge for the wallet to bank or bank to wallet transactions but quickly adds that this only depends on the partnership with commercial banks.
Meanwhile, MTN has also made all Momo transactions to customers and merchants free.
Kenya’s Safaricom has since waived M-Pesa fees for all transactions below Shs36,000.