Nigeria

MTN Nigeria gets final approval for mobile money – let the competition begin!

  • The Central Bank of Nigeria granted MTN Nigeria the final approval for a payment service bank licence

  • This positions MTN Group as a top contender for mobile money services in Africa beyond Safaricom/M-Pesa

  • Plans to separately list its mobile money arm could generate significant investor interest; reiterate Buy

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April 12th, 2022
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

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