07 May 2024

MTN’s Mobile Money (MoMo) app has significantly expanded its international remittances capabilities by launching 25 additional wallet corridors in 10 new countries.

MoMo users can now send money to more than 200 million wallets, maintained by 39 partners, across 24 African countries.

This will benefit migrant populations in South Africa who send money home to Mozambique, Malawi, and the Democratic Republic of Congo (DRC). Ethiopia, Gabon, Kenya, Madagascar, Senegal, Sierra Leone, and Tanzania are among the other countries where passageways have recently been opened. This is in addition to the existing corridors, which include Zambia, Ghana, Cameroon, Rwanda, Uganda, Ivory Coast, Liberia, Congo Brazzaville, Benin, Guinea Conakry, and Guinea Bissau.

The news 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.

“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,” said Kagiso Mothibi, MTN SA’s general manager for Fintech Products and Services. “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.”