Momo Payment Service Bank (Momo PSB), the MTN Nigeria fintech branch, has delivered solid growth indicators and strategic repositioning in H1 2025, supported by MTN’s accelerated investments and is being renewed on financial inclusion.
After refining his strategy earlier in the year, Momo PSB entered H1 2025 with a renewed objective and the results reflect this change. Active portfolios climbed 2.7 million, fired by the addition of more than 562,000 new customers in the second quarter.
The thrust reflects a resumption of a strategic recalibration in 2024 which experienced active portfolios drop by 47% to 2.8 million by the end of the year, against 5.3 million in 2023. Despite the drop in active users, transactions volumes increased by 4.3%, which indicates a stronger commitment among the remaining users.
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In H1 2025, customer deposits almost ended between December 2024 and June 2025, highlighting increasing confidence in the secure and accessible services of Momo and an expansion base of high -value users.
Expand partnerships and strengthen the ecosystem
By taking advantage of a network of expanded partners, Momo PSB focused on the attraction of premium customers and the increase in deposits’ performance. This strategy focused on the ecosystem has unlocked integrated services opportunities, improved the functionality of the portfolio and a deeper commitment in the Nigeria digital payment space.
“Momo’s resurgence is not only a question of growth, this is strategic refinement and empowerment of the ecosystem,” said Karl Toriola, CEO of MTN Nigeria. “We build a resilient Fintech Platform, centered on the user and transformer for millions.”
Lead digital and financial inclusion
MTN’s PSB Momo plays a crucial role in filling the financial gap in Nigeria by giving access to financial services, especially in poorly served areas.
Designed to fill the gap between poorly served and financier services, Momo allowed millions of people to carry out daily transactions without the burden of traditional bank delays.
The company offers services that allow more Nigerians to transform easily via the USSD canal, save money, connect with Momo agents for deposits and withdrawals and make transactions on the Momo application.
While MTN Nigeria channels investment in infrastructure and innovation, Momo PSB has become a key pillar of financial inclusion. Its initiatives – including a commitment of 3 billion nairas to the 3MTT program and a startup accelerator of 100 million Nairas, fill the gaps in access, opportunity and entrepreneurship, creating a tangible value for customers and the digital economy of Nigeria.
While Momo’s Momo platform is gaining ground, it faces many common challenges to the Nigerian Espace Fintech. Infrastructure remains a significant bottleneck. Unreliable power supply makes it difficult for agents and customers to constantly access the services that Momo promises.
Despite this, the scope of MTN across the country, combined with its solid network of agents, places it in a unique position to overcome these obstacles with innovative solutions.
With the softening of macroeconomic winds and growing digital adoption, Momo PSB is well positioned to evolve more in H2 2025. While MTN Nigeria optimizes capital expenditure and increases available cash flows, the Fintech segment should play an increasingly vital role in writing profitability and innovation.
The telecommunications company has set an objective to build the largest fintech platform in the country, aimed at reaching 30 to 40 million MTN Momo portfolios by 2025.
In particular, the strategic renewal of Momo PSB underlines its resilience, its preparation and its growing relevance to shape the digital financial future of Nigeria.
