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MTN Positions MoMo as Digital Payments Platform for South Africa

MTN Group logoMTN Group
Sig3.20Sen+4.10Env0.00Soc+3.80Gov0.00

Cash remains dominant in South Africa’s payments, posing challenges for MoMo. MTN aims to expand MoMo into a broader digital financial platform linking consumers and merchants to payments, credit, and remittances across Africa. South Africa is framed as a test for adapting mobile-money to a more mature system, with MoMo now reporting 70 million+ monthly active users and 13 billion+ transactions worth over $330 billion in 2026’s first half.

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