The Y’ello Digital Financial Services, (YDFS), a subsidiary of MTN Nigeria, has launched a super-agent network service named ‘MoMo Agent’, in its efforts to deepen financial inclusion in the country.
The launch follows the successful award of a Super-Agent License by the Federal Government.
The Chief Executive Officer of MTN Nigeria, Ferdi Moolman, while speaking at the launch, said YDFS plans to rollout about 500,000 agents spread across all the 36 states and the Federal Capital Territory.
He noted that the extensive network of MoMo agents will immediately begin providing safe and accessible money transfer services to underbanked and unbanked people across Nigeria.
He said: “With this, the company joins ongoing efforts to accelerate the Central Bank of Nigeria’s drive for financial inclusion.
“I am excited by the possibilities. We are fortunate to be part of the telecoms industry which underpins the digital economy and is critical to inclusive development and the future economic growth of this great nation. “The launch of the YDFS MoMo Agent is especially significant to us. It further demonstrates our commitment to remain focused on enhancing Nigerian’s access to financial services, and in so doing, connects them to what is most important to them.”
Also speaking at the event, YDFS Director, Usoro Usoro, noted “Our MoMo Agent network opens up a host of opportunities, creating employment and facilitating business in rural and urban areas. Leveraging MTN’s extensive distribution network and capabilities, we are putting financial services within easy reach.