MoMo Agents drives financial inclusion as active wallets soar to 2.9m

*Revenue Jumps by 72.5%

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Chuks Udo Okonta

MTN 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, coupled with a robust 72.5 per cent increase in Fintech revenue. This growth is powered by a comprehensive revamp of its customer acquisition strategy and a significant expansion of its agent and merchant network across the country.

Ecosystem Expansion:
The increase in active wallets, up 1.6% 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% compared to December 2024, reflecting a deliberate focus on optimising distribution quality and building a more sustainable fintech ecosystem.

Financial Indicators: 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 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”.

The entire MoMo strategy is backed by the company’s massive investment program, which saw Capex (excluding leases) rise to N757.4 billion. This continuous investment in network and digital platforms is essential for sustaining the growth of the mobile money ecosystem and reinforcing the company’s commitment to delivering sustainable value to all stakeholders.