MTN Group’s fintech unit is accelerating its push to gain a larger share of the African market, through a new strategic partnership with global fintech firm Ant International.
According to a statement, the move aims to boost the capabilities of its MoMo mobile money platform.
The partnership, which will initially launch in Nigeria next quarter, will see MTN leverage Ant International's technology to enhance ecosystem integration through a super app platform.
It will also strengthen fraud prevention capabilities and introduce stronger engagement features for MoMo consumers and merchants.
In addition, it will introduce features to strengthen the platform to expand financial inclusion, improve the customer experience and create a broader ecosystem of financial, lifestyle and commerce services around MoMo, says the telco.
It will be introduced to other African markets at a later stage.
"This partnership aligns with MTN Group's ambition of being at the forefront of digital solutions for Africa's progress by leveraging scale, technology and strong global partnerships,” says MTN Group president and CEO Ralph Mupita.
"It reflects our commitment to transforming the customer experience at scale by delivering a more seamless, secure and intuitive MoMo platform that advances digital inclusion and expands economic participation."
The agreement comes as MTN continues to strengthen its fintech business, which remains one of the group's key growth engines. MTN's fintech operations have been delivering strong growth across its African markets, with the group continuing to pursue the structural separation and expansion of its fintech businesses in several countries.
Douglas Feagin, president of Ant International, says the partnership combines the strengths of both organisations.
“By combining MTN's deep market insight with our advanced technology capabilities, we aim to help create a more inclusive, secure and scalable digital financial services environment that benefits both consumers and merchants in-country."
"This partnership marks an important milestone in our ambition to help shape Africa's digital financial future through our ‘One Big Tech’ strategy,” comments MTN Group Fintech CEO Serigne Dioum.
The new integration is expected to deliver tangible benefits for MoMo users, including faster transaction processing, improved platform reliability and deeper integration between financial and commerce services, says the operator.
Customers will be able to access payments, savings and a range of value-added services through a more unified and intuitive digital experience, it notes.
By enhancing the capabilities of MoMo, MTN says it is positioning itself to capture growing demand for digital financial services, while supporting broader economic participation across the continent.
According to the GSM Association, Sub-Saharan Africa remains the most active mobile money region in the world. It has over 850 million registered mobile money accounts, with well over $1 trillion in transaction value processed each year.
In SA, mobile money is still much smaller than in East and West African markets, but it remains a significant and growing part of the digital financial services landscape.
According to IMF data compiled by the Federal Reserve Bank of St Louis, the country had about 3.44 million active mobile money accounts in 2024.
Share
