MTN Group Fintech operates MTN’s mobile‑money platform MoMo alongside insurance offerings, airtime lending, e‑commerce and network solutions. The business is positioned for expansion and MTN has said it will prepare to separate its financial services division. Mastercard signed a definitive agreement to make a minority investment of up to USD 200 million into the fintech unit at a USD 5.2 billion cash‑and‑debt‑free valuation. The transaction remains subject to customary closing conditions and was originally announced on 14 August 2023. MTN noted the deal is non‑categorised under JSE listing requirements; the precise amount to be paid by Mastercard is expected to be disclosed later. MTN said the arrangement complements its broader commercial relationship with Mastercard and is intended to accelerate fintech development and drive financial inclusion across Africa.

Total raised

$200M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2024