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Tag: MTN MoMo

  • MTN MoMo drives financial literacy

    MTN MoMo drives financial literacy

    MTN Nigeria, through its MoMo Payment Service Bank (PSB), has taken its 21 Days of Yellow Care campaign to Ikotun Market in Lagos, offering traders financial literacy and incentives to adopt digital payment solutions.

    The initiative, which is part of MTN’s annual corporate social responsibility programme, aims to empower market men and women with knowledge on savings, budgeting, and financial planning, while encouraging them to open and upgrade MoMo wallets for seamless financial transactions.

    “This is not just a campaign, it’s about equipping our market people with tools to manage their money better.

    “We are helping them understand the importance of saving, planning and using digital channels to grow their businesses. That’s why we’re encouraging them to upgrade their wallets and offering POS devices to those who need them,” Regional Sales Manager for MoMo PSB Lagos, OlaOluwa Okeshola said.

    To incentivize participation, 50 selected traders who carry out at least five MoMo transactions daily for a week will receive free solar-powered fans. “It’s not about volume but consistency. Five transactions a day, and they qualify,” Okeshola added.

    The outreach also aims to build long-term trust with traders. Senior Lead for Sales and Distribution in Ikotun, Adeyemi Adeoye, emphasised the programme’s continuity and positive reception.

    “This is something we’ve done annually for over a decade. The engagement and feedback have always been encouraging. It shows people are seeing value,” he noted.

    Project Coordinator for Network Enterprise Services, Babatunde Shinyobola, said this year’s focus on financial education aligned with the broader goal of sustainable economic empowerment. “We’re not just giving out tools; we are changing mindsets. From market sensitisation to school donations—solar inverters, routers, laptops—we are pushing for impact across all 36 states,” he said.

    For traders such as Kolawole Sekina Anike, who sells spices in the market, the benefits are already tangible.

    She said: “I never knew MoMo worked like other online banks. I now use their umbrella for my stall, and I want to become one of their agents.”

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    MTN is doing a good job, but they really need to improve their network. That’s the only challenge we face in the market.”

    Also, Samuel Ajibade, who sells ladies’ clothing and shoes in the market, commended the initiative, stating: “This kind of programme makes a big difference. Many of us don’t know how to separate our business money from daily spending. Now I understand budgeting better and I’m opening a MoMo account today. If they can fix the network issues too, it’ll help even more.”

    MoMo officials say steps have been taken to address gaps. MoMo Retail Developer at Ikotun market Akinwunmi Boluwaji Amos, acknowledged previous shortcomings but assured traders that this year would be different. “We’ve collected their details and we’re committed to fulfilling all promises made—starting with delivering the solar fans next week.

    “If MoMo can address the key challenges traders face, especially the persistent network issues inside the market; it would make a big difference. Many of them struggle with poor connectivity. If MoMo can improve its network performance, I believe it will significantly boost usage and impact in Ikotun Market,” he said.

  • MTN MoMo shares $10,000 hackathon cash to winners

    MTN MoMo shares $10,000 hackathon cash to winners

    MTN MonMo has shared $10,000 to the persons who won the first edition of its hackathon in Lagos.

    Christened MTN MoMo Hackathon, the grand prize of $5,000 went to Oluwapelumi Yusuf emerging for inventing Rova Pay which incorporates MoMo APIs with features that transcend payment processing.

    Rova Pay offers customers the convenience of making transactions anytime and anywhere using automated USSD, which eliminates the need for internet services and manual code dialing.

    Also, Marvis Igbokwe partnered with Favour Ajie Divine to develop MoMo Cash, coming in second place with a cash prize of $3,000 while Isaac Odinaka Franklin’s solution, Clique Plus Pay, won third place with a cash prize of $2,000.

    The event which was held at Four Points by Sheraton, Victoria Island, Lagos, attracted tech developers, entrepreneurs, and innovators from various sectors, and focused on developing solutions to accelerate financial inclusion and digitization of payments in Africa.

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    Speaking on the importance of the MoMo Hackathon in the fintech industry, Chief Commercial Officer, MoMo PSB, Elsa Muzzolini, said: “At MoMo, we stand firm in our belief that innovation thrives not just within our brand, but within the collective of stakeholders. That is why we are equipping developers with the tools and resources necessary to expedite reaching individuals who are excluded from financial access or believe that financial services are not tailored to their needs.

    “Our commitment to fostering financial inclusion is a collaborative effort. By making MoMo accessible to innovators across Nigeria, we enable them to leverage its full potential in developing applications that hold the power to transform lives.”

    Upon receiving his prize, an excited Yusuf said: “I am thrilled and honoured to have won the MoMo Hackathon 2023. My motivation for conceiving this solution was born during my visits to rural communities in Nigeria, where I witnessed the limitations imposed by the need for internet connectivity to access basic applications, particularly for payment purposes. I recognised the need to bridge this gap and support financial inclusion.”

    In addition, the top 12 participants received gifts and an invitation to the Pan African grand finale to represent Nigeria in the MoMo Hackathon.

    The hackathon provided a unique opportunity for developers across 14 African countries including Nigeria, Ghana, Uganda, Ivory Coast, Cameroon, Rwanda, Eswatini, Congo Brazzaville, Guinea Conakry, Zambia, Benin, Liberia, South Africa, and South Sudan to further shape the future of digital finance and empower millions of people with access to comprehensive and life-changing financial services.

    MoMo Hackathon continues to be a driving force in the advancement of financial technology, creating opportunities for talented individuals to make a meaningful impact on the industry.