MTN Group partners with Ericsson to boost mobile finance in Africa

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MTN Group partners with Ericsson to boost mobile finance in Africa
Credit: © Reuters.

JOHANNESBURG - MTN (JO: MTNJ ) Group has announced a partnership with global telecommunications provider Ericsson (BS: ERICAs ) to broaden the scope of mobile financial services across Africa. The initiative is a key component of MTN's Ambition 2025 strategy, which aims to drive financial inclusion and economic empowerment throughout the continent.

The collaboration will leverage the Ericsson Wallet Platform to offer MTN's over 63 million active users a more extensive range of financial services. This move is particularly significant as it targets the unbanked population, providing them with new opportunities for financial management and growth.

Through the use of MoMo, MTN's mobile money service, customers will gain access to a variety of financial services, reflecting both companies' commitment to fostering a sustainably connected Africa.

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