Yet another financial innovation using mobile telecommunications has been introduced in Africa. This time, it’s an investment product from Uganda’s MTN Mobile Money (MTN MoMo), a mobile financial service provider.
MTN Uganda announced plans on Wednesday to hold an extraordinary general meeting (EGM) on July 2 to discuss and vote on the proposed spinoff of its mobile money and fintech business, MTN MoMo, from its core telecoms operations.
A scheduled upgrade to its M-Pesa mobile finance service, announced last week by Kenyan operator Safaricom, was successfully completed today. It has been described as the most significant upgrade of the M-Pesa platform since 2015.
Mastercard and pan-African digital payments company Onafriq announced on Monday that they are collaborating to increase accessibility to mobile payment services for consumers and small and medium enterprises (SMEs) across Africa.