Africa’s Biggest Mobile Operator MTN Wants To Compete With Nigeria’s Banks

16 August 2019

Money Transfer

South African mobile operator MTN is expected to begin offering financial services in Nigeria after it received a license from the Nigerian central bank in July.

Yello Digital Financial Services Limited, a fintech subsidiary of MTN, is expected to offer services that will help MTN compete with Nigeria’s banks, according to VenturesAfrica.

Nigeria has an unbanked population of around 60 million people, which represents 31.4 percent of the total population. The government needs them to become “banked” to achieve its goals of financial inclusion by 2020. Read the full article on Moguldom here.