MoMo wallets hit 5 million as MTN prepares fintech separation
MTN Ghana's MoMo platform has reached 5 million active wallets as the group advances plans to separate its fintech operations into a standalone entity. The milestone and structural shift signal a major repositioning of MTN's mobile money business within Ghana's payments market.
MoMo Spinoff: a 5-million-wallet business that still stumbled on its own lending product
MTN Nigeria's MoMo numbers look strong — 5 million active wallets, revenue up 132% year-on-year. But read past the headline: fintech service revenue actually fell 7.2% in the same period, because MTN suspended its airtime and data lending services earlier this year.
That gap matters for Ghana. MTN Ghana is advancing its own MoMo separation, and lending is precisely where mobile money grows from a transfer tool into something people genuinely depend on — as M-PESA's pivot toward credit signals across the continent.
The Nigeria numbers are a live reminder that spinning a mobile money unit into a standalone entity is the easy part. The harder question is whether the product can hold its own when the telco's safety net is no longer underneath it.
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