Financial exclusion in Côte d’Ivoire 

Financial exclusion remains a significant barrier to inclusive to economic growth and social development in Côte d’Ivoire.  Limited access to formal financial services disproportionately affects women, rural communities, and low-income populations, contributing to inequality and reducing opportunities for economic participation.

Factors such as low financial literacy, high service costs, and insufficient infrastructure further limit access to essential services like savings, credit, insurance, and secure payments

Our response: MoMo

MTN recognises its crucial role in the nation’s digital transformation, as a leading telecommunications provider in Côte d’Ivoire, leveraging our infrastructure to assist in bridging the divide of financial exclusion. MoMo is our fintech platform, allowing eligible users to send local and international payments, access loans, buy insurance and access a wide range of other financial services. MoMo is a mobile wallet service that is available to active MTN smartphone and SIM users. To utilise MTN Mobile Money, the use required to register, after which you can then view the options available to you, in the MoMo app, simply just using your phone.

Impact and achievements

We are proud of our contribution in driving financial inclusion through MoMo and remain committed to expanding our services and solutions to our customers and Accelerating Africa’s Digital Future.

Financial Inclusion: MoMo has significantly increased access to financial services, particularly in rural and remote communities. The World Bank has noted that mobile money adoption in Côte d’Ivoire has been a key driver of financial inclusion.

Economic Empowerment: Users have reported improved financial management and enhanced business opportunities. For example, a local entrepreneur stated, “with MoMo, I can receive payments instantly, which has improved my cash flow and allowed me to expand my business.”

Job Creation: The MoMo ecosystem has created numerous employment opportunities, including agents, merchants and support staff, contributing to the local economy. MTN estimates that Mobile Money has contributed to the creation of 400,000 jobs across its footprint.

MTN plans to continue expanding MoMo’s reach and services in Côte d’Ivoire to enhance user education, improving service reliability and introducing new financial products tailored to local needs. Patrick Attoungbre highlighted the company’s commitment: “We will strive to improve our products to meet our goal of providing accessible, secure and affordable financial services, in particular to underserved populations.” Through these efforts, MTN seeks to further empower individuals and businesses, fostering economic growth and financial inclusion in Côte d’Ivoire.