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.
Globe Telecom CEO Ernest Cu said the operator group’s fintech division may go public as the company looks to diversify its business away from traditional telco revenue drivers.
Safaricom and Mastercard announced on Thursday that they have signed a partnership to accelerate adoption of payment acceptance and cross-border remittance services in Kenya.
MTN Uganda Mobile Money managing director and CEO Richard Yego revealed the operator is aiming to almost double its loans to UGX1 trillion (US$256,000) this year.