MTN Mobile Money (MoMo) will now operate as a separate legal entity.
This was unveiled at an exclusive event referred to as The Big Announcement, attended by Zambia’s prime socialites, influencers, musicians, businessmen and women.
Mobile Money managing director Kombe Malukutila announced that the official rebranding of the mobile money segment would not only benefit customers but the entity’s 87,000 merchants and 78,000 agents as well.
MTN MoMo has adopted a more communal approach that can be seen not only by financial inclusion but also by the number of jobs provided for MoMo agents, trading benefits provided to merchants and increased financial accessibility.
Instead of the traditional yellow that MTN has been known for over the years, marketing manager Dalitso Miti said that the official colour for MoMo would be blue, related to dependability and encapsulating everything that the firm planned on achieving in the next decade.
To celebrate MoMo’s 10 year milestone the firm has launched a promotion dubbed Winamo Muli KI million Na Momo. To enter the draw, a minimum of K300 needs to be deposited into one’s mobile money account in order to stand a chance to win a share of the K1 million allocated to the draw.
MoMo anticipated 10 weekly winners of K10,000 in cash with the grand prize standing at K200,000.
Products and strategy manager Pafyako Malema said that “everybody deserves the benefits of the modern connection”, embodying the launch of the campaign.
Other services that MoMo would provide were collateral-free loans which could be up to K10,000.
The sum of K700 million insurance services had been allotted to this draw with 15 banking agents to help the free flow of finances.
“We also expect to see partnerships between MoMo, Visa and Mastercard that’ll help international accessibility to finances by providing cards that can be swiped and used for online purchases.”