Friday
November 16
2018

MTN is planning to launch its mobile money service in Nigeria next year

By Yomi Kazeem

MTN, Africa’s largest telecoms company, is doubling down on its Nigeria operations despite a history of billion-dollar fines.

The company will apply for a mobile banking license in Nigeria and plans a launch of its mobile money service in Africa’s largest economy in the second quarter of next year, its CEO said at a trade show in Cape Town on Tuesday (Nov.13).

MTN’s mobile money plans will go on despite its latest scrap with Nigerian authorities who claim it “illegally repatriated” $8.1 billion in profits and possibly owes $2 billion in taxes.

Photo courtesy of Casey Dlott/USAID.

Source: Quartz Africa (link opens in a new window)

Categories
Finance
Tags
digital payments, emerging markets, fintech, mobile banking, mobile finance, mobile money, telecommunications