From 70 million to 317 million: How Serigne Dioum plans to turn every MTN subscriber into a MoMo user

MTN Group Fintech CEO Serigne Dioum shares his vision for turning MTN's 317 million subscribers into a closed-loop financial ecosystem. In 2007, Dioum began his career in mobile payments, leading to the creation of MoMo, MTN's digital financial services platform. With a goal of converting subscribers into active financial services users, Dioum focuses on expanding MoMo's utility for existing customers in Nigeria and South Africa, two of the highest-leverage growth opportunities.

In Nigeria, MTN has upgraded MoMo's technology stack and appointed a new CEO to broaden the platform's regulatory licenses and operational alignment. In South Africa, Dioum sees an opportunity to leverage the national payments infrastructure to reach both consumers and merchants, while also providing financial services to underserved segments.