MTN, World Bank unit partner on mobile money roll-out in South Africa - TechCentral

MTN, World Bank unit partner on mobile money roll-out in South Africa

MTN Group has partnered with the World Bank’s International Finance Corporation (IFC) to train mobile money agents across South Africa to target unbanked and underbanked segments of the population.

The two organisations said on Wednesday that they will invest the equivalent of R28-million in upskilling mainly youngsters and women in MTN’s MoMo offerings. They’re targeting recruiting thousands of new MoMo agents in 2021 as part of the plan.

“MTN will identify, recruit, enrol, train and supervise the new MoMo agents and assist any dormant MoMo agents by giving them support where they struggle to get off the ground,” the telecommunications operator said in a statement.

“A team of trade development representatives will be created and trained by MTN South Africa and the IFC to manage a portfolio of MoMo agents, support them in growing their businesses and managing compliance regulations like anti-money laundering and know your customer.”

MTN South Africa chief officer for mobile financial services Felix Kamenga said the aim is to create viable, standalone businesses that can increase transactional activity for the agents and increase awareness of MoMo value-added services.

Kamenga said the IFC has a history of supporting similar initiatives that seek to drive up financial inclusion across the African continent.  — © 2021 NewsCentral Media

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