November 13, 2018 / 8:34 AM / a month ago

South Africa's MTN to apply for mobile money license in Nigeria

CAPE TOWN, Nov 13 (Reuters) - South African mobile phone group MTN Group plans to apply for payment banking license in Nigeria and launch a service in Africa’s biggest economy by the second quarter of 2019, its chief executive said on Tuesday.

“We will be applying for a payment service banking license in Nigeria in the next month or so, and if all goes according to plan, we will also be launching Mobile Money in Nigeria probably around Q2 of 2019,” Rob Shuter said.

Reporting by Wendell Roelf Editing by James Macharia

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