MTN FINTECH UNVEILS NEW MoMo LOGO


The repackaging of MTN Fintech as a platform business is a change necessitated by their group strategy called Ambition 2025, where MTN is transforming into a digital and platform business. The company says its ambition going forward is to build the biggest Fintech Platform in Africa. MTN Fintech Services also reveals that the MoMo platform circulates over E1 billion per month, driven by 10 million transactions.


Photo Credit: www.insidebiz.co.sz

By Ntokzoo Nkambule

MTN Mobile Money (MoMo) has rebranded after eleven years of existence in the Kingdom of Eswatini. The company tonight unveiled a brand-new logo, which is aimed at repositioning MoMo as a vital enabler in the evolution of their product and platform to compete with global OTTs and Fintech companies.

MTN Fintech Services Chief Executive Officer (CEO), Sam Shongwe in his address noted that they have come a long way as a company, having evolved from being a department under MTN Eswatini, to becoming a fully-fledged entity referred to as MTN Fintech Services, which has been a change at MTN Group level driven by the exponential and anticipated growth of MTN Fintech Services across Africa.

Shongwe said their repackaging and branding are driven by their group strategy. “The repackaging of MTN Fintech as a platform business is a change necessitated by the group strategy called Ambition 2025, where MTN is transforming to a digital and platform business. Our ambition going forward is to build the biggest Fintech Platform in Africa by tapping into new propositions as led by our 5 unicorns” the CEO explained.

He added that their intention as a company is to play a critical role in supporting digital economies and marketplaces, by presenting and leveraging on the possibilities that exist in their MTN MoMo ecosystem. “We imagine receiving our salaries and being able to make all necessary payments or transactions through MoMo. For instance, conveniently pay rent, buy groceries, save, pay bills, and make online purchases, amongst other uses” he added.

The CEO further noted that their brand refresh is a testament to their commitment to developing e-commerce solutions by offering small business owners an alternative, secure, reliable, and convenient mode of payment.

Apart from their group strategy going forward, MTN Fintech Services also notes that the MoMo platform has done a lot for emaSwati as they currently have over 18 000 registered MoMo agents and 16 000 registered merchants, who accept MoMo as a mode of payment in their businesses. “We have 1,100 businesses that utilize MoMo to pay for their services including salaries and wages. This year, we are circulating over E1 billion monthly in our platform, driven by 10 million transactions. These indicators reflect the true value and impact of MoMo on our local economy. Additionally, MTN MoMo has created entrepreneurs who are championing our extensive distribution channel who in turn employ other Emaswati, particularly the youth” he posited.   

Shongwe concluded by thanking all stakeholders that have been with them in their journey, from their customers, the government, regulators, and their distribution channel. Present during the launch were various stakeholders, notably from the private sector, regulators, and government officials, among others.


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