MTN MoMo Expands Across Africa, Reaching 200 Million Wallets in 24 Countries

MTN’s mobile money platform, MTN MoMo, continues its expansion across Africa, with the addition of 25 new transaction methods in 10 additional countries, including the DRC, Ethiopia, Kenya, Mozambique, and Malawi. With this expansion, MTN MoMo now serves 200 million wallets across 24 countries, marking a significant milestone in financial inclusivity.

Originally launched in Uganda in 2007, MTN MoMo has grown from facilitating person-to-person payments to offering a wide range of financial services. These services include loans, savings, insurance, remittances, and various payment options, catering to over 50 million active monthly users.

Furthermore, MTN MoMo extends its reach to support merchants, businesses, fintech companies, banks, financial institutions, digital service providers, and other organizations with fintech offerings. The platform boasts over 910,000 agents and 626,000 merchants, providing extensive accessibility and convenience for users and businesses alike.