MoMo executives with Nigerian actor and comedian, Olaniyi Afonja, at the MoMo Launch in Lagos.
Mobile Money Payment Service Bank (MoMo PSB), a fintech subsidiary of MTN Nigeria – Nigeria’s largest telecommunication and ICT firm – has been nominated for the 19th SABRE (EMEA) Awards, in the Consumer Services (Financial) category.
The 2023 EMEA SABRE Awards, which will be held on March 23, 2023, is organised by PRovoke Media to honour campaigns and brands that exhibit the highest levels of strategic planning creativity, and business results across Europe, the Middle East, and Africa.
MoMo PSB is a financial platform that provides access to affordable financial services for the unbanked and underserved in Nigeria. Global Finance Magazine noted that 60% of the Nigerian population is unbanked, indicating an estimate of 123.7 million people without access to banking services, despite having an internet penetration rate of 70% and being the largest economy on the African continent. MoMo PSB is poised to improve the financial inclusion rate in Nigeria, in alignment with the Central Bank of Nigeria’s target of 95% financial inclusion rate by 2024.
Speaking on the Nomination, Eli Hini, Chief Executive Officer, MoMo PSB, said, “MoMo PSB places a lot of importance on financial inclusion and fintech innovation. We have always viewed ourselves as a business that promotes inclusive economic expansion by empowering our customers and partners with smart financial solutions. We are proud to be nominated at the 2023 SABRE Awards. MoMo PSB was launched in 2022, and we are not just getting great results but also great recommendations, and for these, we are grateful.”
The 19th annual SABRE Awards EMEA ceremony is scheduled to take place at Gesellschaftshaus Palmengarten in Frankfurt, Germany, where the final winners will be announced.