MTN to apply for mobile money license in Nigeria

MTN Group says it plans to apply for payment banking license in Nigeria and launch a service in Africa’s biggest economy by the second quarter of 2019, its chief executive said on Tuesday.

FILE: A man walks past a MTN notice board in Lagos on 27 October 2015. Picture: AFP

CAPE TOWN – South African mobile phone group MTN Group plans to apply for payment banking license in Nigeria and launch a service in Africa’s biggest economy by the second quarter of 2019, its chief executive said on Tuesday.

“We will be applying for a payment service banking license in Nigeria in the next month or so, and if all goes according to plan, we will also be launching Mobile Money in Nigeria probably around Q2 of 2019,” Rob Shuter said.