MTN MoMo Marks 15 Years in Benin as Mobile Money Expansion Strengthens Financial Inclusion
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MTN MoMo is marking 15 years of operations in Benin, celebrating a milestone that underscores the platform’s central role in expanding financial inclusion across a market historically underserved by traditional banking systems. Launched in 2010, the service now facilitates payments, business operations, and everyday transactions for millions of Beninese users. The anniversary events highlighted coordinated efforts with national authorities, financial institutions, partners, and distribution networks that helped scale the service into a nationwide financial infrastructure.
The platform continues to support MTN Group’s revenue diversification strategy by generating income through transaction fees, merchant solutions, and financial partnerships. In Benin, MoMo has become a key enabler of small business growth, digital commerce, and domestic and cross-border remittances. Its expansion aligns with investor interest in scalable African fintech models, though regulatory uncertainty and competition from Orange Money remain notable risks in the market.
MoMo’s trajectory also supports broader regional goals tied to the AfCFTA, with mobile-enabled financial services contributing to productivity, market integration, and digital GDP growth. Similar African markets project up to 30 percent annual digital services value-add, highlighting the economic importance of accessible mobile payment systems.
