It is anticipated that South African mobile operator MTN will to begin offer financial services in Nigeria after it received a license from the Nigerian central bank in July.
Yello Digital Financial Services Limited, a subsidiary of MTN, is likely to offer services that will help MTN compete with Nigeria’s banks, according to VenturesAfrica.
Nigeria has an unbanked population of around 60 million people, which represents 31.4 percent of the total population. The government needs them to become “banked” to achieve its goals of financial inclusion by 2020.
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