MTN Group Reports Surge in Fintech Transactions Amid Profit Decline
By
Hikaru Suzuki
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
MTN Group Ltd. has revealed a substantial increase in fintech transaction volumes, despite experiencing a notable decline in profits attributed to the devaluation of the Nigerian naira. The company boasts a significant user base of 72.5 million active users for its mobile-money services, also known as MoMo. In addition, MTN Group recently finalized a deal with Mastercard Inc., which has valued the business at an impressive $5.2 billion.