MTN South Africa is venturing ever further into territory traditionally occupied by the country’s banks.
MTN Group has signed an initial agreement with global payments giant Mastercard to sell a minority stake in its fintech arm.
MTN South Africa has launched a hackathon to challenge developers to build solutions on top of its Mobile Money platform.
Bradwin Roper, newly appointed CEO of MTN’s financial services unit in South Africa, has big plans for Mobile Money.
MTN South Africa said on Monday that users of its MoMo mobile money platform can now “cash out”, or withdraw funds, at Nedbank-owned ATMs.
MTN Group has reported a strong set of results for the 2020 financial year, adding 29 million customers, growing adjusted headline earnings per share by 52% and more than doubling operating cash flow.
Mastercard and MTN Group on Tuesday announced that they have formed a partnership that will allow millions of MTN Mobile Money customers to pay for goods and services on global e-commerce platforms.
Africa’s mobile phone operators are ramping up plans to bring banking to millions of Africans, in some cases for the first time, after the coronavirus crisis caused a surge in use of digital financial services.