MTN Nigeria Communications Plc on Friday said it had obtained a super-agent licence from the Central Bank of Nigeria through its subsidiary, Y’ello Digital Financial Services Limited.
The licence issued, on Thursday, July 25, 2019, according to the company, will enable it to join the league of financial technology companies that are accelerating financial inclusion in the country through an agent network.
The Chief Executive Officer, MTNN, Ferdi Moolman, confirmed this in the company’s 2019 half-year interim financial report published, on Friday.
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We are pleased with obtaining a super-agent licence from the Central Bank of Nigeria, which will enable us to build an agent network and accelerate the growth of our fintech business,” Moolman said in the report.
The company also said it would continue to work towards obtaining a Payment Service Banking licence it applied for in 2018.
MTN said it invested N50m in Y’ello Digital Financial Services Limited in the first half of the year, with respect to the minimum shareholding requirement stipulated by the CBN for a super-agent licence.
