MTN Group will launch an MVNO and mobile money services in Namibia later this year, according to Reuters, taking the number of markets where the company offers direct financial services to 15.
The move will take MTN closer to its aim of being one of the banking leaders in Africa, where it already offers mobile money services in 14 markets – although not its homeland of South Africa. It also has a continent-wide agreement in place with banking group Ecobank to further widen its reach.
At the end of 2017, MTN had 22 million mobile money subscribers across the markets where it offers the service including Ghana, Rwanda and Cameroon. By 2022 it aims to increase this to 60 million.
MTN Group offers its own full mobile services in 22 markets, most of which are in Africa. It also offers enterprise-focused solutions in several others.