MoMo agents provide an avenue to deliver automated cash transfers; covering up the percentage of the unbanked who do not have access to funds.
In the first 6 months of 2021 (H1 2021), transaction volume increased by 280.8% year-on-year, to 55.6 million, and the active subscriber base is now more than 6.1 million, up to 180.0% year-on-year.
Expressing his view on the MoMo Agent Growth, Karl Toriola, CEO of MTN Nigeria said:
“We continue to expand our MoMo agent network and broaden our service offerings. Our registered MoMo agents increased by 121,000 in H1 2021, to more than 515,000”.
“Transaction volume increased by 280.8% year-on-year to 55.6 million in H1 2021, and our active subscriber base is now more than 6.1 million, up 180.8% year-on-year”.
MTN Nigeria which recently marked 20 years of doing business in Nigeria, has its digital revenue up by 61.8% in H1 of 2021, backed up by its rich media, and ecosystem of value-added services.
“Our active user base rose by 38.0% to over 3.9 million, led by Ayoba – our instant messaging platform, with more than 2.3 million active users… the enterprise business revenue increased by 6.0%, demonstrating the continued recovery from the impact of the Covid-19 lockdown, and the uptake of our services by the businesses we serve”.
“We have made significant progress in concluding the operational modalities for the new pricing framework for USSD services, which incorporates the recovery of outstanding USSD debts… we continue to pursue and realize efficiency through cost discipline and enhanced digitization” the CEO added.