MTN MoMo, MTN’s mobile money app, has significantly expanded its international remittances capabilities with the launch of 25 new wallet corridors across 10 new countries .
With this expansion, MoMo users can now send money to over 200-million wallets operated by 39 partners in a total of 24 African countries.
The move is especially beneficial for migrant communities in South Africa who send money home to Mozambique, Malawi and the Democratic Republic of Congo (DRC).
The newly-enabled corridors include DRC, Ethiopia, Gabon, Kenya, Madagascar, Mozambique, Malawi, Senegal, Sierra Leone, and Tanzania. This is in addition to the existing corridors including Zambia, Ghana, Cameroon, Rwanda, Uganda, Ivory Coast, Liberia, Congo Brazzaville, Benin, Guinea Conakry, and Guinea Bissau.
“At MTN, we recognise the importance of providing accessible and affordable financial services, especially to communities who rely on remittances to support their loved ones,” says Kagiso Mothibi, MTN SA’s GM for fintech products & services. “With the addition of these new wallet corridors, we are furthering our commitment to facilitating seamless cross-border money transfers at a launch fee of 4%, which is lower than most competitors.”