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MTN Nigeria unit launches money transfer platform

MTN Nigeria Communications PLC subsidiary Yello Digital Financial Services Ltd. launched MoMo Agent, a platform aimed at providing money transfer and other financial services to Nigerian customers that do not have access to bank accounts.

The network service will launch immediately and is part of the company's efforts to join the Nigerian central bank's drive for financial inclusion. Yello Digital Financial Services Director Usoro Usoro said the company intends to expand the MoMo Agent's range of offered financial services once it obtains central bank approval for a payment banking license.

MTN Group Ltd. is the ultimate parent of MTN Nigeria Communications.