MTN Group has made a significant move to promote financial inclusion in Africa by announcing that Mobile Money Corporation (MMC), the fintech subsidiary of MTN Cameroon, has obtained a Payment Services Provider license from the Banking Commission of Central Africa through the Ministry of Finance. This license will enable MMC to offer a broader range of financial services to its customers.
MTN Cameroon established MMC with the vision of creating an inclusive MoMo (Mobile Money) ecosystem accessible to all individuals. With the newly acquired Payment Services Provider License, MMC can now expand its fintech services and provide a more diverse range of offerings to its customer base.
READ ALSO:
Nvidia Collaborates with University of Bristol-led Consortium to Build Isambard 3 Supercomputer
OpenAI Explores Inclusive Decision-Making for AI Regulations
Volkswagen in Talks with Huawei to Bring HarmonyOS to Cars in China
The granting of this license is seen as a positive step towards advancing financial inclusion in Cameroon. By leveraging innovative and affordable fintech solutions, MMC aims to cater to the needs of its over 5 million customers who engage in transactions every month.
