Get Guardian on GoogleMTN Nigeria’s Fintech arm, MoMo, is rapidly closing the financial inclusion gap in Nigeria, reporting that its active wallets have expanded to 2.9 million while growing revenue by 72.5 per cent.
The growth was powered by a comprehensive revamp of its customer acquisition strategy and a significant expansion of its agent and merchant network across the country.
The increase in active wallets, up 1.6 per cent from December 2024, is the result of a recalibrated strategy designed to sustainably scale the ecosystem.
The commitment to on-the-ground presence is evident – the number of active agents grew by 73.6 per cent and merchants by 42.6 per cent compared to December 2024, reflecting a deliberate focus on optimising distribution quality and building a more sustainable fintech ecosystem.
The Fintech sector’s strong momentum is supported by higher interest income from deposits, which increased by 80.5 per cent. This growth complements the broader company’s financial health, which is powered by a total service revenue of N3.7 trillion and a restored profit after tax (PAT) of N750.2 billion.
The deployment of MoMo agents and merchants directly addresses the need for financial access in underserved communities, aligning with the company’s vision to support national priorities.
The company noted it is “deepening financial inclusion in underserved communities through our MoMo agents and merchants.
