MTN MoMo Processes $2.1 Billion in Remittances

MTN MoMo Processes $2.1 Billion in Remittances

MTN Group has announced that its mobile money platform, MoMo, processed $2.1 billion in international remittances in the first half of 2025. The milestone reflects growing transaction volumes across its 14 active fintech markets in Africa.

According to the company’s half-year report, the growth in remittances was driven by increased customer adoption of cross-border transfer services and expanded digital partnerships. MTN MoMo now serves over 72 million active users across markets including Nigeria, Ghana, Uganda, Côte d’Ivoire, and Zambia.

Focus on Cross-Border Interoperability

MTN Group stated that its next phase of expansion will focus on cross-border wallet interoperability. The initiative aims to allow customers in different African countries to send and receive funds directly between mobile wallets, reducing the need for third-party intermediaries.

The company is pursuing this through open API integration, enabling financial service providers and fintech startups to connect to the MoMo platform. MTN expects this to support faster and more secure transfers across markets while promoting wider digital financial inclusion.

Key Partnerships Supporting the Rollout

MTN’s fintech expansion is being supported by a network of international and regional partners:

• Mastercard provides payment infrastructure across 13 markets, including virtual and physical card integrations that allow MoMo users to make digital purchases.

• Ericsson supplies the core wallet platform, which supports transaction processing, security, and interoperability across MTN’s fintech markets.

• JUMO collaborates with MTN Zambia on Kwanisa Na MoMo, an overdraft service that enables customers to access short-term credit directly from their wallets.

These partnerships form part of MTN’s effort to diversify MoMo’s services beyond domestic transfers into lending, merchant payments, and cross-border remittances.

Regulatory and Infrastructure Scope

MTN’s fintech operations are currently licensed in several African countries under central bank and telecommunications regulations. The company continues to work with regulators to ensure compliance with local and regional payment frameworks as it expands interoperability.

Infrastructure improvements remain central to this strategy. MTN has been scaling agent networks, merchant payment systems, and settlement processes to support growing transaction volumes and international corridors.

Outlook from MTN Group

In its latest earnings report, MTN Group described fintech as one of its fastest-growing business segments, contributing an increasing share of total group revenue. The company said its long-term goal is to simplify money movement across African markets through wallet-to-wallet connectivity, supported by partnerships and regulatory engagement.

MTN MoMo currently operates in 14 countries and continues to add financial services aimed at expanding access to digital payments and financial tools across the continent.