MTN has expanded MoMo’s remittance network by adding 25 new wallet corridors across 10 African countries.
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MTN Group increased its fintech transaction volumes by a third in its latest financial year.
The deal with Mastercard expands the breadth of MTN’s Mobile Money services across 13 African markets.
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.
Shares of MTN Nigeria hit an all-time high on Monday after receiving approval to operate mobile money services in Africa’s most populous country.
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.