Melvin Onwubuke
MTN group and Mastercard have signed a multi-market contract, that will activate a new era of partnership to connect millions of people and small businesses across Africa, with digital tools to operate through secure mobile networks.
This was disclosed by MTN in a statement released on Thursday.
In the statement, MTN said the collaboration will use Mastercard cutting edge technology and capacity, to bolsters MTN’s aspiration to become Africa’s largest fintech platform, for both customers and merchants.
The Group CEO of MTN fintech, Serigne Dioum stated that, the partnership would enable more individuals and businesses in Africa, to experience secure digital payments.
He said “When there is a mutual vision – in this case to bring access, progress, financial inclusion, and prosperity to people – the road to partnership is a simple one.
“We look forward to working with Mastercard as a partner that is also committed to the enablement of more people and businesses through the collaboration into best-in-class apps, superior user experiences, safe transactions, secure remittances, new use cases, and expanded acceptance.”
Meanwhile, the Executive Vice President, Market Development EEMEA, Mastercard, Amnah Ajmal, said “Our innovation strategy is based on collaboration. We are very proud of our partnership with MTN which will enable digital commerce for millions of people in Africa.”
“In addition, mobile money solutions can be greatly beneficial for SMEs, enabling growth through seamless commercial operations, wider payment acceptance, access to affordable credit, and secure digital tools,” he added.
Furthermore, with MTN’s overall subscriber base at 290 million and 60 million active monthly MoMo (Mobile Money) wallets, the agreement will impact 13 markets in Africa including Benin, Cameroon, Cote d’Ivoire, Eswatini, Ghana, Liberia, Nigeria, Republic of Congo, Republic of Guinea, Rwanda, South Africa, Uganda, and Zambia.
