MTN MoMo, MTN’s mobile money app, has expanded its international remittance capabilities with the launch of 25 new wallet corridors across 10 new countries.
This means MTN’s MoMo service has strengthened MoMo’s position as one of South Africa’s leading financial services platforms.
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With this expansion, MoMo users can now send money to over 200 million wallets operated by 39 partners in a total of 24 African countries.
This move is especially beneficial for migrant communities in South Africa who send money home to Mozambique, Malawi, and the Democratic Republic of Congo (DRC).
The newly enabled corridors include DRC, Ethiopia, Gabon, Kenya, Madagascar, Mozambique, Malawi, Senegal, Sierra Leone, and Tanzania.
This is in addition to the existing corridors including Zambia, Ghana, Cameroon, Rwanda, Uganda, Ivory Coast, Liberia, Congo Brazzaville, Benin, Guinea Conakry, and Guinea Bissau.
“At MTN, we recognize the importance of providing accessible and affordable financial services, especially to communities who rely on remittances to support their loved ones,” says Kagiso Mothibi, MTN SA’s General Manager for Fintech Products & Services.
“With the addition of these new wallet corridors, we are furthering our commitment to facilitating seamless cross-border money transfers at a launch fee of 4%, which is lower than most competitors.”
The expansion of MTN MoMo’s international remittance services aligns with the platform’s mission to promote financial inclusion and empower individuals, including those without traditional bank accounts, to access formal financial services. Since its inception in 2019, MoMo has continued to evolve and offers a wide range of services, including payments, e-commerce, personal insurance, lending, and more.
“By expanding our services to new markets and corridors, we are not only enabling individuals to support their families across borders but also driving economic empowerment and fostering greater financial resilience within communities,” adds Mothibi.
“We are committed to providing innovative and accessible financial solutions that cater to the diverse needs of our customers, with a focus on affordability, simplicity, and reliability,” Mothibi concludes.
Remember with MoMo there are no monthly fees, the app is zero-rated, so it doesn’t use any airtime or data, and it’s available to all customers on any mobile network.
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