MTN Fintech Services has revealed that over 550,000 customers now transact on MoMo every month, underscoring the mobile money platform’s transformative role in Eswatini’s financial ecosystem.
The milestone was highlighted during the MoMo Business Forum Cocktail at Malandela’s in Malkerns, which brought together banks, government officials, and corporate leaders to celebrate the platform’s success.
Speaking at the event, MTN Fintech Services CEO Sam Shongwe expressed appreciation to the businesses and partners who have supported MoMo since its inception. “Today, we celebrate a platform that has transformed the way businesses operate, empowered communities, and driven financial inclusion across our nation,” Shongwe said.
He noted that more than 26,000 businesses are part of the MoMo ecosystem, with 143 companies disbursing over E100 million monthly through the platform.
“These numbers are not just statistics; they represent stories of growth, resilience, and innovation,” Shongwe said. “MoMo Business is more than technology; it is about people, opportunity, and progress.”
During the event, corporate partners and organizations shared testimonials about how MoMo has simplified payments and disbursements. Victor Mahlalela, CEO of the National Disaster Management Agency (NDMA), highlighted the platform’s critical role during the COVID-19 pandemic, noting that MoMo enabled cash-based transfers to over 100,000 households, reaching more than 500,000 people and disbursing over E200 million.
“This partnership enabled us to process payments in hours instead of days, ensured safety by reducing physical contact, and gave households the dignity to focus on their urgent needs,” Mahlalela said. He added that MoMo also supports quick payments to community volunteers and local suppliers, boosting cash flow and local economic activity.
The MoMo platform also supports NGOs such as World Vision and the Red Cross, empowers women entrepreneurs, and helps families receive social grants. Shongwe emphasized that MoMo’s success is rooted in collaboration with businesses and institutions that have trusted the platform from its early days.
Shongwe concluded by reinforcing MoMo Business as more than technology, describing it as a catalyst for growth, opportunity, and financial inclusion: “When businesses partner with each other, they don’t just grow, they multiply possibilities. Your success is our success, and together, we can redefine what growth looks like in Eswatini.”
The MoMo Business Forum Cocktail served as both a celebration and an engagement platform, allowing MTN’s executive team to interact with partners, answer queries, and explore further collaboration opportunities, solidifying MoMo’s position as a trusted partner for businesses and communities nationwide.