MTN wants to turn its mobile-money service into a super-app, and it is bringing in one of the companies behind China’s Alipay to help.
MTN Group Fintech has signed a strategic partnership with Ant International, the global arm of China’s Ant Group, the operator of the Alipay super-app, to overhaul the technology behind MoMo, its mobile-money platform. The first rollout is expected in Nigeria next quarter.
The plan is to evolve MoMo from a payments app into a wider ecosystem: a “mini-app” platform that lets third parties build services inside MoMo, alongside stronger fraud prevention and richer features for consumers and merchants. It mirrors the model Ant built with Alipay in China, where a single app bundles payments, lifestyle and commerce.
Building a “One Big Tech” platform
“This partnership aligns with MTN Group’s ambition of leading digital solutions for Africa’s progress by leveraging scale, technology and strong global partnerships,” said MTN Group president and chief executive Ralph Mupita.
MTN Group Fintech chief executive Serigne Dioum framed the deal as a step in the unit’s “One Big Tech” strategy, while Ant International president Douglas Feagin said the company would combine MTN’s market knowledge with its own technology to build “a more inclusive, secure and scalable” financial-services platform.
The mobile-money prize
The target is significant. Sub-Saharan Africa is the world’s most active mobile-money region, and mobile technology already underpins a large share of the continent’s economy. MoMo is one of MTN’s fastest-growing businesses, and a more capable platform could deepen its hold on payments, savings and value-added services.
The move also fits a broader push by MTN to build consumer platforms beyond connectivity, from fintech to its recent launch of the One TV streaming service. Whether a super-app model that thrived in China translates to Nigeria’s market, with its own habits and rival wallets, is the test the Nigeria launch will set.
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