July 24

MTN Cameroon to Soon Offer Mobile Savings and Loans Services

MTN Cameroon is currently finalizing MoMoKash, its platform aimed at providing savings and microcredit services via mobile phones. This was confirmed by a source within the company on condition of anonymity since the project is not yet officially announced.  “We should have announced it but, there still are minor adjustments to make,” the source said.

The platform was created by Credixcam, a Cameroonian startup specialized in the sector, and users can just subscribe to the services via a shortcode. The services will be managed by Mobile Money Corporation, MTN Cameroon’s subsidiary in charge of the management of the operator’s mobile money services (issuance of electronic money, deposits, and withdrawals), that recently increased its capital to comply with COBAC regulations

Photo courtesy of UN Women / Ryan Brow.

Source: Business in Cameroon (link opens in a new window)

digital finance, fintech