MoMo Agent Network, operated by Y’ello Digital Financial Services, a subsidiary of MTN Nigeria, added 121,000 customers in the first half of year 2021, TechEconomy.ng can report.
MoMo Agent efficiently delivers automated cash transfers and provides an avenue for the unbanked to receive funds.
In the period under review, MoMo Agent transaction volume increased by 280.8% YoY to 55.6 million in H1 2021, and the active subscriber base is now more than 6.1 million, up 180.0% YoY.
Speaking on MoMo Agent growth, Karl Toriola, the CEO of MTN Nigeria, said:
“We continue to expand our MoMo agent network and broaden our service offerings. Our registered MoMo agents increased by 121,000 in H1 2021 to more than 515,000.
“Transaction volume increased by 280.8% YoY to 55.6 million in H1 2021, and our active subscriber base is now more than 6.1 million, up 180.0% YoY”.
Meanwhile, MTN Nigeria’s digital business has continued to gain traction on the back of its strong partner ecosystem and the uptake of other products and services.
The Company which has marked 20 years of doing business in Nigeria, has its digital revenue up by 61.8% in H1 2021 supported by its rich media and value-added services.
“Our active user base rose by 38.0% to over 3.9 million, led by Ayoba – our instant messaging platform – with more than 2.3 million active users.
“The enterprise business revenue increased by 6.0%, demonstrating the continued recovery from the impact of the COVID-19 lockdown and the uptake of our services by the businesses we serve.
“We have made significant progress in concluding the operational modalities for the new pricing framework for USSD services, which incorporates the recovery of outstanding USSD debts.
“We continue to pursue and realise efficiency through cost discipline and enhanced digitization”, the CEO said.