MTN eyes January launch for MoMo mobile money service
The mobile operator hopes to replicate the success of the transactional service in SA that it has had in other parts of Africa
SA’s second-largest mobile operator MTN is relaunching its mobile money service in the country in an effort to replicate the success it has found in other markets.
MTN first launched its mobile money platform locally in 2012 before pulling the plug in 2016 because of a lack of commercial viability as three-quarters of the population have bank accounts. Vodacom shut down its M-Pesa mobile money service in SA in the same year, citing similar reasons.