MTN MoMo

MTN MoMo is the financial technology platform of MTN, one of Africa's largest telecommunications groups. What began as a mobile money service has developed into a broader digital financial services ecosystem covering payments, transfers, remittances, merchant services and other financial products. In Nigeria, the service is operated through MoMo Payment Service Bank, a subsidiary of MTN Nigeria licensed by the Central Bank of Nigeria.

The wider MTN MoMo platform has grown well beyond a basic mobile wallet. MTN reported that MoMo had 69.5 million monthly active users at the end of 2025, alongside 1.4 million active agents and 2.1 million active merchants across its footprint, with the wider fintech ecosystem processing 23.3 billion transactions worth US$500.3 billion during the year, figures that reflect MTN Group's footprint rather than Nigeria alone.

That strategy is continuing to evolve. In June 2026, MTN Group announced a strategic partnership with Ant International aimed at accelerating the transformation of its MoMo ecosystem, expected to introduce a super-app platform in Nigeria with mini-app capabilities, stronger fraud prevention and additional digital finance, lifestyle and commerce services around MoMo.

With a maiden FBSI Score of 64.5, MTN MoMo ranks 11th among the 20 fintech brands in this year's listing. Its position reflects a brand with considerable distribution strength and a long-established presence in mobile financial services, but one operating in a market where newer fintech brands have built strong consumer propositions around payments, savings and digital banking.