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Central Bank of Nigeria grants final approval for MoMo Payment Service Bank Limited to commence operations
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code MTN)
(ISIN: ZAE000042164)
(MTN Group)
Central Bank of Nigeria (CBN) grants final approval for MoMo Payment Service Bank
Limited (MoMo PSB) to commence operations
MTN Group is pleased to announce that MTN Nigeria, as promoter of MoMo PSB, has received a letter
dated 8 April 2022 from the CBN addressed to MoMo PSB conveying approval for it to commence the
operations. This follows the approval in principle for MoMo PSB dated 4 November 2021. The
commencement date will be communicated to the CBN in accordance with its requirements.
Speaking on the final approval, MTN Group President and CEO, Ralph Mupita said “we are grateful to
the CBN for granting the final approval to commence the operations of MoMo PSB, which is an
important milestone for our Ambition 2025 strategy. We are excited about the opportunity for MTN
Nigeria to support the CBN and the Federal Republic of Nigeria in fulfilling the agenda of driving
financial inclusion in Nigeria”.
On release of Q1 2022 trading update, on or about 6 May 2022, MTN Group will provide more details
regarding commencement of operations along with related matters and timelines.
Fairland
11 April 2022
Lead sponsor
Tamela Holdings Proprietary Limited
Joint sponsor
JP Morgan Equities South Africa Proprietary Limited
Date: 11-04-2022 08:20:00
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