MTN MoMo Hits 5 Million Wallets as Fintech Spinoff Looms
MTN's MoMo mobile wallet service has reached 5 million active wallets, coinciding with the operator's preparations to separate its fintech operations into a standalone entity. The dual development marks a structural inflection point for West Africa's mobile money landscape.
MoMo Spinoff: five million wallets is the easy part
MTN Nigeria's fintech revenue fell 7.2% in the first half of 2026 — even as wallet numbers climbed to five million — because Nigeria's central bank forced it to suspend its airtime and data lending services. More wallets, less revenue.
That's the uncomfortable thing sitting inside the headline growth figure. Once MoMo separates into a standalone company, it won't have MTN Nigeria's ₦2.99 trillion telecoms business cushioning it when a single regulatory call wipes a revenue line overnight.
Separation gives MoMo room to grow. It also leaves it exposed.
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- MoMo wallets hit 5 million as MTN prepares fintech separation · thecondia.com · T2