Nigeria's Fintech Reshuffle: MTN Eyes 30M Users, Moniepoint Exits UK, and New Payment Rails Open

MTN targets 30 million fintech users in Nigeria, a sixfold increase from its current 5 million. The telecom giant is importing technology from Alibaba, Alipay, and Ant International to build out its mobile money and lending propositions. Group CEO Ralph Mupita says the plan is simple: convert a fraction of MTN's massive telecom customer base into fintech users, with a target ratio of 30–50% penetration translating to roughly 30 million. MTN is also preparing to move deeper...