MTN MoMo
MTN Nigeria Posts Latest Results, Sees Massive Fintech Boom
MTN Nigeria has today announced its unaudited results for the half-year ended 30 June 2022. The company, an arm of MTN Group, considered Africa’s largest telecom in terms of subscribers and revenue, continues to report positive growth, particularly in its fintech wing. The half year saw MTN Nigeria’s active fintech subscribers grow by 87.3% to 11.5-million, including the registration of 4.2-million MoMo wallets since the launch of the fintech PSB on 19 May of this year. A massive gain for the business that was affected by a series of shady bank transfers in the country in June. Across the board, MTN Nigeria reported positive results with a 7.6% increase in mobile subscribers to an enormous 74.1-million, adding 5.7-million in the quarter alone. Active data users also increased by 13.2% to 3...
MTN Nigeria Bleeds $54-Million to Shady Bank Transfers
Sourced from TheTechieGuy (https://thetechieguy.com/) Nigeria’s largest telecom firm, MTN Nigeria and MTN’s leading subsidiary in terms of sheer number of subscribers, has taken 18 banks in Nigeria to court over an alleged series of unauthorised transfers to the tune of $53.7-million. The shady transfers were from an account reportedly owned by its mobile payment service bank (PSB) MoMo, which was only recently licensed in the West African country. According to several Nigerian publications covering the story, MTN Nigeria alleges that the 18 banks, which are partners of the telecom, have wrongly transferred billions of Naira to 8000 accounts maintained by customers of the banks. MTN through MoMo is currently seeking a court declaration that states that the fund deposits belong to MoMo and ...
MTN Signs Landmark Digital Payments Deal with Hungry Lion Zambia
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MTN Announces Partnership with FinTech Unicorn Flutterwave
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MTN Appoints New CEO of Simfy/ayoba
South Africa’s MTN Group yesterday announced the appointment of Burak Akinci as CEO of Simfy (ayoba), reporting to the MTN Group Chief Digital and Fintech Officer Serigne Dioum. Akinci will also be in charge of the company’s ayoba super app. Effective 1 September 2021, Burak joins MTN from Turkcell, a converged telecommunication and technology services provider, founded and headquartered in Turkey, where he was CEO of BiP, an instant messaging platform with millions of users across 192 countries. Burak, with over 20 years of experience in marketing, digital businesses and technologies, led the build-out of the BiP platform, which has more than 30 million users. In his new role, he will be based in Cape Town. “We are thrilled that an executive of Burak’s calibre is joining us. His appointme...
MTN MoMo Extends Partnership with Pick n Pay South Africa
MTN MoMo (Mobile Money) has revealed that its South African subscribers will now be able to cash-in and cash-out at Pick n Pay stores across the country, offering consumers a secure and cost-effective means of transacting that also alleviates the risks of managing cash. “We’re pleased to extend our relationship with Pick n Pay by offering quick and convenient cash-in and cash-out services to our 2,8 million MoMo subscribers through Pick n Pay stores,” says Felix Kamenga, Chief Officer of Mobile Financial Services at MTN SA. “Until now, MoMo customers have only able to cash-out through bank EFTs, at an MTN store or via a MoMo agent. Adding Pick n Pay to our offering will create greater convenience and accessibility for our customers – many of whom need to factor transport ...
MTN Group Adds 29 Million Subscribers Despite a Challenging 2020
MTN added 29 million new subscribers in 2020, to reach a total of 280 million across 21 markets. The group also reported a 52% increase in adjusted headline earnings per share, a four percentage point increase in return on equity to 17% and a more than doubling in operating cashflow to R28,3 billion. “We continued to perform favourably against our medium-term targets,” says MTN President and CEO, Ralph Mupita. “In constant currency terms, service revenue grew 11,9% to R170 billion and EBITDA increased by 13,4%, maintaining our strong operating leverage. The Group’s EBITDA margin improved by 0,9pp to 42,7%, benefiting from the execution of our expense efficiency programme.” The solid results were supported by growth in MTN’s larger operations as well as a broad-based improvement across...
Mastercard Partners with MTN to Enable MoMo Customers to Transact Globally
Mastercard has joined forces with MTN to enable millions of MTN MoMo customers in 16 African countries to shop and pay online with global merchants. Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers can now unlock a host of opportunities and shop from their favourite international brands online while in their home countries or travelling abroad. The announcement comes at a time when eCommerce and online shopping are reaching record levels across Africa. According to the Economy 2021 outlook conducted by the Mastercard Economics Institute, 20-30% of the COVID-19-related surge in eCommerce will remain a permanent feature of overall retail spending. And shopping through mobile is largely how consumers access these opportunities. Across Sub-Saha...
MTN South Africa Partners with Ozow to Make MoMo Transfers Simpler
MTN South Africa has partnered with Ozow to make loading funds simpler for Mobile Money (MoMo) users. “We see this partnership as one more step in our efforts at displacing cash and enabling greater digital and financial inclusion for all South Africans. The rapid growth of mobile money services this year points to the growing demand among South Africans for safe and efficient ways to store, send and spend money via their mobile device,” says Thomas Pays, CEO and co-founder at Ozow. MTN MoMo was launched at the beginning of 2020 and crossed the one million user milestone in June. It offers users an easy way to send money to friends and family members as well as access to a range of value-added services such as purchasing prepaid electricity, renewing car licence discs, and purchasing produ...
MTN Liberia and Sendwave Partner to Expand International Remittences
Sourced from The Techie Guy Lonestar Cell MTN has partnered with Sendwave to enable customers to receive international remittances from the US straight into their Mobile Money accounts. MTN believes that using MoMo for international remittances and daily financial transactions makes life easier, safer and more convenient. “We are excited and very proud to be at the forefront of innovative financial technologies and partnerships which can help Liberians live convenient and safer lives. Our international remittances partnership with Sendwave does just that,” says Christopher Ssali, Acting GM of Lonestar Cell MTN Mobile Money. “What is even better is that with our rapidly expanding MoMo ecosystem, MoMo customers can use the money they receive to pay bills, buy goods and pay for services...
Lonestar Cell MTN and WorldRemit Expand International Remittances in Liberia
Lonestar Cell MTN and WorldRemit have partnered to make it possible for customers to receive international remittances straight to their Mobile Money accounts, free of charge. With over 7,000 Lonestar Cell MTN agent cashpoint locations across Liberia, the service is expected to eliminate the stress, risks and long queues in banking halls associated with receiving remittances sent by loved ones. “Liberians can now receive international financial remittances from family and friends in Europe, Canada and the USA more easily and safely,” says Christopher Ssali, Acting GM of Lonestar Cell MTN Mobile Money. “Our MoMo ecosystem has grown so customers can use the money they receive to pay bills, buy goods and pay for the services they need with Mobile Money. We are excited about this because it ma...
MTN Ghana to Become a Fully Digital Operator by 2023
MTN has introduced a month-to-month payment option that aims to give customers “control of their spend commitments”. With no lock-ins, no credit checks and no complicated paperwork, MTN Month-to-Month is available to anyone that either doesn’t want to be tied to a contract or who is unable to get a long-term contract due to not meeting minimum requirements. New or existing customers simply need to choose the package they want and opt for the month-to-month payment option, allowing them to experience the MTN network without a 24-month obligation. All they will be asked for is their name, SA ID and debit order details should they opt to pay via debit order. “These are uncertain times for many, so with this product, we are responding to our customer’s needs with greater flexibility, as not ev...
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