Momo Agent News Today

MobileMoney Limited, a subsidiary of MTN Ghana has awarded its outstanding mobile financial services agents at the 2022 Mobile Money (MoMo) Agents and Merchants Awards Night held a grand style in Accra. The CEO of My Kids Pride Links Limited, Ms. Dorcas Abena Gyabea, who emerged as the overall best…

The Chief Executive Officer of the Mobile Money for MTN, Mr. Shaibu Haruna, says the company is to transition its MoMo Services to a full business platform as part of broader ambition for 2025 strategy. He said solid services would be introduced in the coming years to advance customer experience…

On 5th November 2021, MTN and Airtel confirmed, through their social media handles, the Approval-in-Principle (AIP) by the Central Bank of Nigeria (CBN) for Payment Service Bank (PSB) license. The approval is a step towards fulfilling their long-standing wish. The telcos have never hidden their desire to get fully involved with financial services. The large […]

On 5th November 2021, MTN and Airtel confirmed, through their social media handles, the Approval-in-Principle (AIP) by the Central Bank of Nigeria (CBN)

The African Development Bank has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a FinTech subsidiary

According to a 2019 report by the National Bureau of Statistics, 73.2 million adults representing 41.6 per cent of the adult population in Nigeria are financially excluded. About one in five adults and 38 per cent of households report having a formal bank account. This includes both commercial banks (34 per cent of households) and other financial institutions such as microfinance institutions (MFI), cooperative societies, and savings associations. The incidence of banking is higher in the South...

The Mercy Corps’ ‘Building Resilience in Complex Crisis (BRICC)’ programme funded by the European Union, has signed a new partnership with Y’ello Digital Financial Services, owners of the MoMo Agent Network, a subsidiary of MTN Nigeria, to efficiently deliver automated cash transfers and provide an avenue for programme participants with or without bank accounts to receive funds. The partnership will kick-start the use of MoMo Agent in the distribution of conditional and unconditional ca...

Vanguard News How innovation is pushing Nigeria’s financial inclusion drive [Opinion] On By Victor Ilo NIGERIA has come a long way in its financial inclusion pursuit. From 2012 when the Central Bank of Nigeria, CBN, initiated the Nigerian Financial Inclusion Strategy, NFIS, till almost 10 years later, a lot has happened. One of the advancements is a service which enables customers to withdraw cash via mobile money agents from their bank accounts without the use of an Automated Teller Machine...

Just a decade ago, Nigeria was heavily dependent on the traditional banking model for financial services and transactions. The need to transform the industry was obvious. In the eastern part of Africa, Kenya had begun the financial turn with M-Pesa. Launched in 2007, the service allows users to pay bills and send money through mobile phones or an agent network, regardless of whether they have bank accounts. As a result, the service impacted access to economic services with financial inclusion i...