MTN to expand Zambia money merchant network - Mobile World Live

MTN to expand Zambia money merchant network

05 APR 2018

MTN Zambia unveiled plans to open 500 new mobile money kiosks and 3,000 new retail points in Zambia in a bid to increase uptake of its financial services platform, Biztech Africa reported.

In an interview with the publication, MTN Zambia CEO Charles Molapisi said many of its 6 million-strong mobile customer base in the country were using its mobile money platform to make personal transactions or as a business tool.

He added the company processed between ZMW2.5 billion ($264 million) and ZMW3 billion per month on its money platform.

Efforts to boost usage in Zambia fit with MTN Group’s strategy to expand the scale of its mobile money operation. In January 2018, CEO Rob Shuter said the company wanted to treble its number of subscribers to the service across Africa within four years with the eventual aim of becoming the largest bank on the continent.

Last month, the operator was rumoured to be eyeing re-entry into the financial services sector in its home market of South Africa, almost two years after abandoning its original service.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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