MTN’s successful IPO in Ghana shows the far-reaching potential of mobile money in Africa
By Yomi Kazeem
MTN successfully pulled off a first: a historic initial public offering done mainly through mobile money.
The telecom operator’s IPO, launched in May, saw 84.6 % of local applicants in Ghana buy their shares through MTN’s mobile money service, Momo Wallet. The IPO is doubly historic as it’s the largest ever undertaken on Ghana’s stock market. In total, over 100,000 Ghanaian nationals purchased MTN shares using mobile money accounts.
Photo courtesy of Simone D. McCourtie.