MTN rallies on Nigeria mobile money growth
Solid foundation is being laid for a payment service bank in the country, says CEO
31 January 2022 - 08:10
UPDATED 31 January 2022 - 18:44
Shares in MTN shot up by almost a tenth on Monday, with Africa’s largest mobile operator closing at its highest level since late 2015 after growth in mobile payments in Nigeria strengthened its case to set up a bank in the country.
MTN Nigeria, which makes up a third of the group’s business, said on Monday mobile money service users rose 102% to 9.4-million, adding 4.8-million users for the full year to end-December 2021...
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