Network International and Blu Penguin enabling mobile money transactions in Ghana

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.

Digicel Pacific announced on Wednesday that it has launched a ‘Pacific Transfers’ service for its MyCash mobile wallet that it says enables direct, fast and relatively cheap money transfers via mobile between users in Fiji, Samoa, Tonga and Vanuatu.

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.