MoMo Payment Service Bank, the fintech arm of MTN Nigeria, delivered compelling signals of growth and strategic renewal during H1 2025, benefiting from MTN’s accelerated investment posture and increased focus on financial inclusion.
Fintech Revival Gains Traction
After recalibrating its strategy earlier this year, MoMo PSB entered H1 2025 with sharp intent, and the numbers speak volumes.
Active wallets rose to 2.7 million, bolstered by the addition of over 562,000 new customers in Q2 alone.
This renewed momentum comes as MTN Nigeria doubled down on its commitment to drive inclusive digital finance for underserved communities.
A standout figure: customer deposits surged nearly fivefold between December 2024 and June 2025, reflecting rising trust in MoMo’s secure, accessible services and an expanding user base of high-value customers.
Expanding Partnerships, Enriching Ecosystems
Leveraging a strengthened partner network, MoMo PSB focused on attracting premium users and enhancing deposit performance.
This ecosystem-driven approach has unlocked new opportunities for integrated services, improved wallet functionality, and deeper engagement in Nigeria’s digital payment landscape.
“MoMo’s resurgence is not just about growth, it’s about strategic refinement and ecosystem empowerment,” said Karl Toriola, CEO of MTN Nigeria. “We’re building a fintech platform that’s resilient, user-centric, and transformative for millions.”
MoMo at the Heart of Digital Inclusion
As MTN Nigeria channels investment into infrastructure and innovation, MoMo PSB stands as a pillar of financial inclusion. The company’s role in expanding access to digital financial services aligns tightly with MTN’s broader vision of empowering Nigerian communities through technology.
Through initiatives like the ₦3 billion commitment to the 3MTT Programme and the launch of a ₦100 million startup accelerator, MoMo PSB is actively helping bridge gaps in access, opportunity, and entrepreneurship.
These efforts are creating real value, not just for customers, but for the future of Nigeria’s digital economy.
Looking Forward: Stability Meets Scalability
With macroeconomic headwinds easing and digital adoption rising, MoMo PSB is positioned to scale further in H2 2025. As MTN Nigeria shifts to optimize capex and enhance free cash flow, the fintech segment is expected to play a critical role in sustained profitability and service innovation.
MoMo PSB’s strategic renaissance is more than a comeback, it’s a signal of resilience, readiness, and relevance in an increasingly digital Nigeria.
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