MTN partners Ericsson to improve mobile financial services in Africa

By Joy Baba-Yesufu

MTN has partnered with Ericsson, a Swedish telecommunications company, to enhance access to financial services in Africa.
This partnership, borne out of a need to widen the scope of financial inclusion among first-time users as well as high-end businesses using MTN’s Mobile Money (MoMo) service on the Ericsson Wallet Platform, will give customers across Africa access to seamless fund management, seamless payment processes, and access to loans and insurance within the mobile connectivity-based financial ecosystem.
MTN Mobile Money, powered by the Ericsson Wallet Platform, will help individuals and businesses make secure and convenient banking and payment transactions with ease, directly from their mobile devices.
Speaking on the partnership, Serigne Dioum, Chief Fintech Officer, MTN Group said, “At MTN, we are not just connecting people, we are unlocking a world of financial possibilities for every African. With 63.5 million active users, our Mobile Money platform is advancing economic empowerment across the continent. MTN Mobile Money offers a spectrum of mobile financial services, encompassing money transfers, payments, savings, and loans for every consumer, actively driving financial inclusion, and advancing economic empowerment across the continent.”
He also added that the collaboration with Ericsson is a significant milestone in the execution of the company’s Ambition 2025, to build the largest and most valuable platform business and create shared value for its customers in Africa.
This partnership includes a transition to public cloud deployments and the refinement of the Open API services framework, fostering the acceleration of fintech innovation in Africa.
Also in line with MTN’s goal of advancing financial inclusion for the unbanked, the service provider will offer advanced financial services to address the rapidly evolving digital financial needs of individuals and enterprises.