MTN MoMo celebrates helping 13 million users break through the financial services barrier

MTN MoMo (Mobile Money) is celebrating a major milestone – reaching 13 million registered customers in South Africa – as it continues to expand financial accessibility. This achievement reinforces MoMo’s commitment to breaking down financial barriers and offering millions of South Africans a more inclusive financial experience.

“Since its relaunch in South Africa, MoMo has played a key role in promoting economic growth and reducing the digital financial divide,” says Kagiso Mothibi, CEO of Fintech at MTN South Africa. “It provides a pathway for people who have operated on a cash basis for most of their lives to enter the formal banking system. This transition can transform lives.”

MoMo users gain access to secure banking services, credit, and affordable insurance. In turn, financial risks are reduced, while opportunities are opened to invest in education, small businesses, and long-term financial security. On a broader scale, this increase in financial inclusion drives job creation, entrepreneurship, and overall economic development.

“From the outset, our mission has been clear: to provide an accessible, cost-effective alternative to traditional banking for the unbanked and underbanked,” says Mothibi. “One of the key advantages is that MoMo does not charge fees on deposits, bill payments, or transfers. That’s undoubtedly why millions of South Africans trust MoMo for their everyday financial needs. If you deposit R100, you keep your full R100 until you choose to spend it – there are no hidden costs or debit orders.”

As MoMo celebrates improving the lives of 13 million users, MTN is adding a fun twist to the service by giving MTN mobile customers the chance to Play & Win and earn rewards simply by making everyday mobile transactions. Until 31 August, each qualifying transaction will receive two plays and qualify for instant prizes. These include millions in cash vouchers and six Toyota Starlet cars, with monthly draws until the promotion ends.

“Play & Win is just another way we’re making digital finance more rewarding for our customers,” Mothibi concludes. “But the story doesn’t end here. At MTN, we are committed to ensuring MoMo remains an innovative service that deepens financial inclusion. With a strong foundation, a growing customer base, and a commitment to zero fees, MoMo will continue redefining financial accessibility in South Africa.”