MTN Group reveals plans to reposition MoMo PSB for investment

• MTN Group is embarking connected a repositioning strategies of its fintech limb successful Nigeria, Ghana and Uganda
• The company’s Group Chief Executive Officer, Ralph Mupita, revealed this, saying the determination volition pave the mode for Mastercard’s investment
• Analsysts estimation that the size of Mastercard’s concern could beryllium arsenic overmuch arsenic $200 million

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the system for implicit a decade.

MTN Group has announced plans to rotation disconnected its fiscal exertion operations successful cardinal African countries wrong the archetypal fractional of 2025 arsenic portion of strategies to let Mastercard to get a number involvement successful the unit.

The South African telecom institution indispensable run its fintech limb successful Ghana, Nigeria and Uganda arsenic portion of the process to implicit the 2023 woody with Mastercard.

MTN Group announces strategical investments from Mastercard. Credit: Novatis
Source: Getty Images

MTN to pave the mode for Mastercard’s investment

The company’s Chief Executive Officer, Ralph Mupita, disclosed this to Bloomberg connected Monday, March 17, 2025.

Africa’s young colonisation is progressively utilizing mobile phones to entree services including banking.

The improvement has opened a lucrative and fast-growing accidental successful the fintech ecosystem for the telco.

MTN’s mobile money transactions roseate 35% successful changeless currency presumption to implicit $320 billion.

MTN operates the MoMo Payment Service Bank successful Nigeria, with astir 5.5 cardinal users arsenic of the 2nd 4th of 2024.

Experts speculate Mastercards concern size

Analysts accidental that the size of Mastercard’s involvement could beryllium arsenic overmuch arsenic $200 million.

The nonstop details volition beryllium disclosed erstwhile the woody closes arsenic the fintech is reportedly valued astatine $5.2 billion.

According to Mupita, the talks are successful precocious stages successful Uganda and Ghana, with Nigeria presenting flimsy regulatory hurdles.

The MTN brag said that the telecom steadfast is unfastened to network-sharing collaboration successful enactment with the inclination successful EU markets.

The MTN radical declared a dividend of 3.45 rand per stock for 2024, beating the 3.35 mean analysts projected.

It besides plans to wage a higher dividend of astir 3.70 rand per stock for the fiscal year.

MTN Nigeria to Relocate Headquarters

Meanwhile, MTN Nigeria has unveiled plans to relocate its office to Eko Atlantic City, a sprawling high-brow country disconnected the Lagos coast.

The Company’s Nigeria Chief Executive Officer, Karl Toriola disclosed this recently. 

The determination places MTN Nigeria alongside large conglomerates, including First Bank, Shell, the Dangote Group, and others among the increasing database of firms relocating to the plush city. 

MTN Nigeria partners Lagos government

Toriola disclosed this during the motorboat of MyLagosApp, a integer level to streamline entree to indispensable services successful the city. 

He did not disclose the timeframe oregon the financials for the caller project. This update comes 4 years aft the telecom institution archetypal announced plans to physique a caller headquarters. 

MTN Nigeria is besides processing the largest Tier 4 information centre successful West Africa, located successful Lagos.

MTN Nigeria CEO, Karl Toriola, announces plans to relocate headquarters. Credit: MTN Nigeria
Source: Facebook

The installation volition person 1,500 racks and relation arsenic a carrier-neutral hub, enabling aggregate Internet Service Providers (ISPs) and unreality work providers to connect. 

MTN's MoMo PSB to let customers to commercialized acquisition cards

Legit.ng earlier reported that MoMo PSB, oregon MoMo Payment Service Bank, has teamed up with Sochitel Group, a satellite pioneer successful digital prepaid solutions.

Through this concern the MoMo PSB Super App present offers the Global Duka Gift Card Service, allowing millions of users to easy marque worldwide online purchases for gaming and amusement packages.

Registered MoMo PSB customers tin conveniently bargain vouchers for well-known websites similar Apple Play, Google Play, Netflix, Amazon, Xbox, and PlayStation by utilizing the Global Duka Gift Card Service.

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Source: Legit.ng