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MTN Group Announces Mobile Money Partnership With Flutterwave

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MTN Group Announces Mobile Money Partnership With Flutterwave-Crystal News

MTN has announced a mobile money partnership with Africa’s leading payments technology company, Flutterwave. This partnership will allow businesses integrating Flutterwave in Cameroon, Côte d’Ivoire, Rwanda, Uganda, and Zambia to receive payments via MTN Mobile Money (MoMo).

MTN MoMo is a fintech platform providing consumers and businesses with an electronic wallet, enabling electronic transfers and payments as well as access to digital and financial services. At the end of June 2021, MTN MoMo had 48.9 million active users and 581,514 merchants. MoMo enables businesses to accept and make payments within the mobile money ecosystem. This new partnership will enable Flutterwave to offer MTN Mobile Money as a payment method to its business customers.

In recent years, Africa has witnessed an explosion in mobile penetration as smartphone adoption has risen rapidly. According to the GSMA, this year Africa will hit the half a billion mark of unique mobile subscribers, and the continent will reach 50% subscriber penetration by 2025. Sub-Saharan Africa alone is responsible for more than 45% of the world’s mobile money accounts with the number of account holders exceeding half a billion by 2020, as shared on Statista.

Through this partnership, MTN and Flutterwave aim to positively contribute to this trend by increasing mobile money usage and penetration in Africa to improve local economies and livelihoods as well as create opportunities for individuals and businesses across the continent.

MTN Group Announces Mobile Money Partnership With Flutterwave-Crystal News

MTN Group Announces Mobile Money Partnership With Flutterwave-Crystal News

Commenting on the partnership, Serigne Dioum, MTN Group Chief Digital, and Fintech Officer said: “As we progress on our journey to becoming the largest fintech platform in Africa, we will empower millions of businesses to embrace e-commerce in our markets to accept digital payments from MoMo consumers. We believe this is an enabler to accelerating digitized payments in Africa. Building strong ecosystems through partnerships is central to our platform strategy and we will continue to invest in expanding the reach of our platform to consumers and businesses in Africa.”

Commenting on the collaboration, Olugbenga “GB” Agboola, Founder and CEO of Flutterwave, said: “Africa has one of the highest growth rates for mobile money adoption and e-commerce in the world. It makes sense that we help provide a seamless payment method to support and ensure African businesses reap the full benefits of the e-commerce boom in the region. Our goal has always been to grow a new wave of prosperity in Africa by creating more avenues for businesses in Africa to accept payments. With this partnership, we can achieve this while creating endless possibilities for our customers.”

The new partnership will further expand on Flutterwave’s previous collaboration with MTN, beyond Uganda and Rwanda – with the potential of deepening adoption of digital payments and e-commerce in Africa, a sector expected to reach $29 billion by 2022, according to Statista.

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Dr. Babatunde Onadeko Appointed as Chairman of AERMP Public Sector Committee

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The Association of Enterprise Risk Management Professionals (AERMP), Nigeria’s leading body for risk management practice, has announced the appointment of Dr. Babatunde Onadeko as the new Chairman of its Public Sector Committee.

Dr. Onadeko, who also serves as the Chief of Staff to Distinguished Senator His Excellency Otunba Engr. Gbenga Daniel, was inaugurated during the AERMP’s 2024 Year-End Conference and Induction of new members held on Saturday, 14th December, at Victoria Island, Lagos.

The ceremony was graced by notable figures in the industry, including AERMP President Mrs. S. Taiwo Ige, Director-General Olayinka Odutola, and several past and present leaders from related professional bodies like CIBN and the Chartered Institute of Directors.

Notable attendees included Prof. Deji Olanrewaju, Alh. Tijanni Borodo, Dr. Uche Messiah Olowu, Prof. Segun Ajibola, and Dr. Uju Ogubunka.

The event also saw Dr. Ayotunde Coker, CEO of Open Access Data Centres, delivering a keynote address, while Mrs. Folasade Femi-Lawal, Country Manager for West Africa at Mastercard, was inaugurated to lead the Women in Risk Management initiative.

In his acceptance speech, Dr. Onadeko, a distinguished fellow of the AERMP, expressed his commitment to leveraging his extensive experience to meet the committee’s objectives, aiming to enhance public sector risk management practices across Nigeria.

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From Business Maverick to Seasoned Politician: The Enduring Legacy of Otunba Gbenga Daniel

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In the archives of The Guardian newspaper, a publication dated February 29, 1988, reveals a fascinating story of a young and ambitious businessman, Mr. Gbenga Daniel. At the time, Daniel was the General Manager of H.F-Schroeder (W.A) Limited, a company that distributed Express and Sabiem lifts, Demag cranes, and Hoists.

The article highlights Daniel’s business acumen and strategic vision as he embarked on a European tour to explore new business opportunities. His itinerary included meetings with officials from Express Lift Company Limited in Northampton, Morganite International Limited in London, and Onan International in Peterborough.

Little did anyone know that this young businessman would go on to achieve greatness in multiple fields. After leaving Schroeder, Daniel established his own company, Kresta Laurel Ltd which became the first indigenous lift company in Nigeria. This bold move marked the beginning of an illustrious career that would take him to the pinnacle of success.

Today, Mr. Gbenga Daniel is known as Otunba Gbenga Daniel (OGD), a renowned politician who has made an indelible mark on Nigeria’s political landscape. A two-time governor of Ogun State, OGD has consistently demonstrated his commitment to public service and his ability to drive positive change.

Currently, OGD serves as a senator of the Federal Republic of Nigeria, representing the good people of Ogun East Senatorial District in the National Assembly. His dedication to his constituents and his passion for nation-building have earned him a reputation as a respected and effective leader.

As we reflect on OGD’s remarkable journey, we are reminded that success is often the result of hard work, determination, and a willingness to take calculated risks. From his humble beginnings as a young businessman to his current status as a respected politician, Otunba Gbenga Daniel’s story is a testament to the power of vision, perseverance, and leadership

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AICL’s GMD, Tamuno hosts Indian Investors

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Amb. Dr. Maureen Tamuno, the Group Managing Director and Chief Executive Officer, recently hosted a delegation of investors from India to discuss strategic collaborations aimed at driving Abuja’s development.

The meeting focused on identifying areas of mutual interest and potential investments that align with the city’s growth objectives. With shared goals and a mutual vision for progress, the discussions underscored the importance of fostering international partnerships to unlock new opportunities for sustainable development.

Dr. Tamuno emphasized the significance of such collaborations in boosting economic activities, enhancing infrastructure, and creating employment opportunities in Abuja. Both parties expressed optimism about the prospects of these initiatives, which are expected to contribute meaningfully to the city’s future.

This engagement marks a pivotal step in strengthening Abuja’s position as a hub for global investment and innovation.

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