MTN Group Fintech

What MTN Group Fintech does

MTN Group Fintech operates a mobile money and digital financial services platform built on the MoMo brand, serving 69 million monthly active users across 17 African markets as of 2024. The business emerged as a standalone platform within MTN Group following Mastercard's $200 million strategic investment in February 2024, which valued the unit at $5.2 billion and positioned fintech as a core growth engine under MTN's Ambition 2025 framework, targeting 20% of Group revenue contribution. The platform processes $272 billion in annual transaction value and 17.6 billion transactions per year (up 30% year-on-year in 2024), spanning 283 million active accounts and $2.1 billion in international remittances processed across 14 markets in H1 2025.

The product portfolio centers on MoMo (Mobile Money), which delivers peer-to-peer transfers, bill payments, merchant payments, airtime purchases, insurance, micro-lending (Xtratime), and e-commerce services, distributed through a self-serve mobile app, an extensive physical agent network, and enterprise bulk disbursement channels. Underlying technology includes the Ant International-powered MoMo Super-App Platform (launching in Nigeria in Q3 2026), enhanced fraud prevention systems, and LATRO's Assure Fintech Revenue Assurance platform deployed across 14 markets. Revenue is generated primarily through transaction-based take rates on payments and remittances, with recurring and usage-based streams from insurance subscriptions and airtime/data credit advances.

The business monetizes via a transaction-fee revenue model with pay-as-you-go billing across consumer, diaspora, merchant/SME, and government/corporate segments. Strategic partnerships with Mastercard (capital and payments), Ant International (technology), and LATRO (infrastructure) underpin the platform, while structural separation of MTN Nigeria's fintech entities (MoMo PSB and Y'ello DFS) under MTN Group Fintech Holdings is consolidating assets in preparation for a potential standalone IPO.

Name

MTN Group Fintech

Legal name

Mobile Telephone Networks (Proprietary) Limited

Website

https://mtn.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

MTN Group Fintech operates the MoMo mobile money platform, serving 69 million monthly active users across 17 African markets with payments, remittances, insurance, lending, and e-commerce services. It is a standalone fintech unit of MTN Group, valued at $5.2 billion following Mastercard's 2024 investment.

Ownership category

akta.pro rank

Product category

Mobile Money and Digital Financial Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

International Money Transfer Operators (MTOs) (FSAMAIAE)

akta.pro secondary industries

Tokenization, Network Vaults & Credential Management (FSAGABAF), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Mobile money services
• Digital payments platform
• Cross-border remittances
• Mobile financial services
• Microfinance solutions

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Mobile Money Transaction Fees: Transaction fees charged on peer-to-peer transfers, bill payments, merchant payments, and airtime purchases through the MoMo platform. The platform processed $272 billion in annual transaction value and 17.6 billion transactions in 2024.
2. International Remittances: Cross-border money transfer services enabling international remittances. Processed $2.1 billion in international remittances across 14 markets in H1 2025.
3. Insurance Products: Mobile insurance products offered through the MoMo platform, providing coverage to underserved populations.
4. Airtime Lending: Short-term credit facilities allowing users to purchase airtime and data, with interest charged on repayment.
5. E-commerce Services: Digital commerce services and marketplace integration within the MoMo super-app ecosystem.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

MTN Group Fintech operates the MoMo mobile money platform, providing digital payments, peer-to-peer transfers, international remittances, mobile insurance, airtime lending, and e-commerce services across 17 African markets. The platform serves 69 million monthly active users with 283 million active accounts and processed $272 billion in transaction value across 17.6 billion transactions in 2024. The business is positioned as a standalone fintech platform valued at $5.2 billion, leveraging MTN Group's telecommunications infrastructure and subscriber base.

Product overview

MTN Group Fintech operates as a standalone digital financial services platform offering a comprehensive suite of mobile money and financial services products. The core offering is MoMo (Mobile Money), which serves as the main platform enabling payments, remittances, airtime purchases, insurance, airtime lending, and e-commerce. The product portfolio includes MoMo Payment Service Bank and Y'ello Digital Financial Services (particularly in Nigeria), the emerging Super-App Platform developed with Ant International, and the MoMo Financial Aid Kit for financial literacy. The platform processes over $1.1 trillion in annual transactions across 17 African markets with 69 million monthly active users, making it one of Africa's largest fintech ecosystems.

Differentiator

Problem solved

Functional benefit

Brands

• MoMo: Mobile money and digital financial services platform offering payments, remittances, insurance, airtime lending, and e-commerce services across Africa.
• MoMo Payment Service Bank
• Y'ello Digital Financial Services

Products and services

• MoMo (Mobile Money)

Quantifiable outcome

• Processed $272 billion in annual transaction value with 17.6 billion transactions in 2024 (up 30% year-on-year)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and major.

• Ant InternationalcoreTechnology or Integration · 12 June 2026MTN Group Fintech entered a strategic partnership with Ant International to transform its MoMo mobile money ecosystem with a super-app platform launching in Nigeria. The partnership introduces enhanced fraud prevention, improved transaction speeds, and greater integration across financial and commerce services, advancing digital inclusion across Sub-Saharan Africa.
• LATROmajorTechnology or Integration · 11 November 2025LATRO and MTN Group Fintech announced a multi-year agreement for LATRO to deploy its Assure Fintech Revenue Assurance platform across 14 African markets. The partnership supports MTN Group Fintech's growth in mobile money and digital financial services amid a rapidly expanding market projected to reach over $60 billion globally by 2030.
• IHS TowersmajorTechnology or Integration · 7 August 2024IHS Towers and MTN Group renewed and extended communications infrastructure agreements, completing renewal of approximately 26,000 MTN tenancies across six African markets including Nigeria, Rwanda, Côte d'Ivoire, Cameroon, Zambia and South Africa. MTN Group holds approximately 26% stake in IHS Towers. The partnerships provide more sustainable financial terms with a better split between local and foreign currency through 2032.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• M-Pesa (Safaricom / Vodafone): M-Pesa is the pioneering African mobile money platform operated by Safaricom (with Vodafone). It is MTN MoMo's most direct competitor, offering P2P transfers, payments, merchant services, and credit across multiple African markets with a comparable telecom-distribution model.
• Orange Money (Orange S.A.): Orange Money is Orange's mobile financial services arm operating across 17+ African and Middle Eastern markets. It directly competes with MTN MoMo on remittances, payments, and digital wallet services in overlapping francophone and anglophone geographies.
• Airtel Money (Airtel Africa): Airtel Money is the mobile money arm of Airtel Africa, operating across 14 African markets with P2P, merchant payments, and remittance offerings. Directly comparable to MTN MoMo given the shared telecom-distribution model and overlapping country footprint.
• WorldRemit: WorldRemit is a global digital remittance platform with strong presence in African corridors, directly competing with MTN's international remittance business on diaspora-to-Africa flows.
• Remitly: Remitly is a leading digital remittance company serving African diaspora corridors. Comparable as a digital-first cross-border money transfer operator with similar customer base and corridors.

Emerging players

• Wave: Wave is a fast-growing mobile money operator focused on West Africa (Senegal, Côte d'Ivoire, Mali, etc.). It competes with MTN MoMo in the same geographies with low-fee mobile money and is rapidly gaining market share among price-sensitive users.
• Flutterwave: Flutterwave is an African payments infrastructure company providing payment processing, remittance, and B2B payment APIs across multiple African markets, intersecting with MTN's merchant payment and cross-border services.
• Paystack: Paystack (acquired by Stripe) provides online payment processing across Nigeria, Ghana, and South Africa. It competes with MTN's merchant payment and e-commerce services for digital acceptance share.
• Chipper Cash: Chipper Cash is an African cross-border payments app enabling remittances and P2P transfers across multiple African countries, directly competing with MTN MoMo's $2.1B remittance franchise in overlapping corridors.

Broad incumbents

• Visa: Visa is a global payments incumbent whose card rails and acceptance network intersect with MTN's payment services, particularly as MoMo expands into international remittances, e-commerce, and merchant payments across Africa.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/MTNGroup
• YouTubeyoutube.com/c/mtngroup
• Facebookfacebook.com/people/MTN-Group/61582205714315
• LinkedInza.linkedin.com/company/mtn
• Instagraminstagram.com/mtn_group_

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MTN Group Fintech