- MTN has announced that its mobile money app, MoMo, is now available in 10 further African countries.
- The fintech solution is available in 24 countries on the African continent in total.
- MoMo users can now send money to over 200 million wallets operated by 39 partners.
MTN has made significant strides in recent years when it comes to its fintech operations, with the latest being the expansion of MTN MoMo to 10 more countries on the African continent.
The company announced the news recently, noting that it now operates in 24 countries across the African continent, allowing its MTN MoMo users to send money to more than 200 million wallets thanks to the 39 partners it has.
The newly enabled corridors as MTN terms them include the DRC, Ethiopia, Gabon, Kenya, Madagascar, Mozambique, Malawi, Senegal, Sierra Leone, and Tanzania. They join Zambia, Ghana, Cameroon, Rwanda, Uganda, Ivory Coast, Liberia, Congo Brazzaville, Benin, Guinea Conakry, and Guinea Bissau.
“This move is especially beneficial for migrant communities in South Africa who send money home to Mozambique, Malawi and the Democratic Republic of Congo (DRC),” MTN noted in a release shared with Hypertext.
“With the addition of these new wallet corridors, we are furthering our commitment to facilitating seamless cross-border money transfers at a launch fee of 4%, which is lower than most competitors,” added Kagiso Mothibi (pictured above), MTN SA GM for Fintech Products and Services.
One of the key advantages of this mobile money app is the fact that there are no monthly fees, along with the app being zero-rated so there are no airtime or data costs involved. It is also available to anyone on any mobile network.
“By expanding our services to new markets and corridors, we are not only enabling individuals to support their families across borders but also driving economic empowerment and fostering greater financial resilience within communities,” added Mothibi.
“We are committed to providing innovative and accessible financial solutions that cater to the diverse needs of our customers, with a focus on affordability, simplicity, and reliability,” he concluded.
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