MTN wants to fintech dominance

MtN says it is seeing great opportunities in Africa’s nascent digital economy and is building “distinctly African” services and products. The company’s newly released annual report for the 2021 financial year offers a glimpse into its strategic plans for the fintech industry, whose revenue in the same period grew 30,9% to r15,9 billion (US$1 billion). Digital and fintech services include among other things value-added services, mobile money, insurance, airtime lending and e-commerce. “The company is positioning itself as a dominant player in fintech services, and we are building the largest and most valuable platforms that are distinctly African digital marketplaces for the widest variety of products and services,” it said.