MTN is stepping up its mobile money efforts in SA through a partnership with the
In the year to end-December 2020, MTN SA contributed R1.05bn to the group’s R13.5bn of fintech revenues. Fintech accounted for about 8% of the group’s full-year revenues, up 23.9% from 2019. By the quarter ending in March, the group had 46.6-million customers on its mobile money platform. MTN says it has entered into a $2m partnership with the IFC to expand the mobile money business in SA.
team of trade representatives will be created and trained by MTN SA and the IFC “to manage a portfolio of MoMo agents, support them in growing their business and managing compliance regulations like anti money-laundering and know your customer”.
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