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Tag: MTN South Africa
MTN SA’s commitment to transformation and improving access to mobile technology across SA has resulted in the company today achieving the significant milestone of Level 1 B-BBEE Contributor Status.
This achievement comes at a time when South Africa ramps up efforts to recover the economy and speed up the inclusion of Black Owned businesses in these efforts. MTN stands in strong support of government’s commitment to ensure that South African’s are able to benefit from transformation across business, employment and skills development.
The strategic intent was to reach this important level within three years, but MTN is proud to have reached its target in only two years thanks to the accelerated and concerted commitment of its entire team.
The result of this can be seen in the procurement spend with Black Owned vendors where in 2016 MTN spent R3.5 billion but by 2019 that had increased to R7.1 billion. In 2016 MTN had spent R9.2 billion with Black Women Owned vendors and this had increased to R10.5 billion in 2019.
“MTN believes in the future of SA but without broad levels of sustained and consistent inclusion and access to technology, the country will not reach its potential. To this end, our 4G coverage has reached 96% of our population, ensuring that we do not leave any township or village behind. We are extremely proud to have therefore reached Level 1 status ahead of target and look forward to doing even more to drive change and improve lives for all South Africans,” says MTN SA CEO, Godfrey Motsa.
MTN’s B-BBEE strategy identifies Enterprise and Supplier Development and Skills Development as two key focus areas. “This strategy is premised on making our customer’s lives BRIGHTER by contributing to Shared Value creation through addressing socio-economic challenges at scale,” says Motsa.
Great strides were made in the last two years by focusing on the key strategic objectives.
“The powerful collaboration between business and team MTN to ensure alignment between the organisational strategies and the B-BBEE objectives has been a major factor behind our success,” he adds.
MTN intends to implement this winning strategy across all transformation touch points within the business. “This is just the beginning; we are pro-transformation and open for even more collaboration as we invite black business to engage even more with MTN going forward.”
“The re-alignment of our procurement policies resulted in notable traction in spend with Black Owned vendors seeing an increase of R2.2bn, Exempted Micro Enterprises which saw an increase of R448m and Black Designated Group suppliers with an increase of R272m in 2019,” Motsa explains.
It is also notable that MTN SA upheld its pledge of participating in and permanently appointing 1000 youth for the YES4Youth Programme as our contribution in addressing the youth unemployment challenges that our country faces. “This programme immediately proved to be a success for ourselves as we benefitted from a new talent pipeline and the YES4Youth cohort where permanent employment was created,” he adds.
“MTN was born in democracy and we believe that transformation is in our DNA. We will continue to demonstrate that through truly inclusive economic growth. As the country faces up to the socio-economic challenges created by the COVID-19 pandemic, MTN will leverage its firm foundation to ensure that all South Africans can enjoy the benefits of the digital world,” concludes Motsa.
Further to the announcements on 4 December 2019 and 12 December 2019, MTN SA has today announced the outcomes from its engagements with the CompCom and response to its Data Service Market Inquiry. MTN SA has developed a set of voluntary undertakings in the form of a social compact to further address the affordability of data services for its customers and MTN remains in discussion with the CompCom on the options to formalise these elective solutions and the implementation thereof.
Included in these initiatives are three areas which focus on deepening MTN’s ongoing drive to reduce the cost to communicate. These are: the affordability of monthly prepaid bundles, lifeline data and the zero-rating of data for public benefit service websites.
Click here for further details: https://www.mtn.com/investors/shareholders/sens/category-sens/?sens_year=2020
MTN today announced that its mobile money service, MoMo will go live in January 2020, allowing customers to send, receive, save and spend money as well as pay for goods and services using their mobile phones.
The announcement comes as MTN finalised its engagements with all the relevant regulatory bodies and authorities including the South African Reserve Bank.
MTN welcomes the positive conclusion of these engagements and looks forward to making MoMo available to all consumers via USSD functionality on *120*151# (MTN customers can dial *151# for free) as well as via App download in the Google Play store and the Apple App store by 30 January 2020.
“The introduction of this mobile money service is a pivotal step in MTN’s strategy and represents MTN’s participation in the next phase of increasing convergence we are seeing between financial services and mobile technology,” says MTN SA CEO, Mr Godfrey Motsa.
“We have been deliberate in selecting best of breed technology to enable MoMo. To this end MoMo will run on the Ericsson Converged Wallet and we’re exciting to be partnering with them across the Group,” adds Motsa.
Says Felix Kamenga, MTN SA Chief Officer of Mobile Financial Services, “We are delighted to make this payments service available to South Africans as many of our people remain unbanked. Our research shows that approximately 11 million South African’s remain unbanked, while 50% of the adult population remain thinly served. MoMo aims to bridge this gap with this innovative mobile money offering, providing a payments solution that encourages financial inclusion.”
“MoMo has been through rigorous testing and we are confident that consumers will reap the benefits of our efforts in this regard. Our investment in our network means that we able to evolve with the ever-changing Fin-Tech landscape, making us the best network for mobile financial service.”
Kamenga also points to MTN’s mobile money successes in other African countries. “We have learnt what to do as well as what not to do and we believe that MTN has significant footprint in South Africa to reach underbanked and underserved communities still heavily reliant on cash to transact.”
“This represents an MTN Group effort as we worked with our counterparts in other markets, tapping into technical and human resources available from established markets which made this journey easier,” he adds.
During the initial phase MoMo will only be available to MTN customers and offers basic services but promises further innovation in early 2020 that aims to bring even more South Africans into the digital economy.
Users of MoMo do not need to have an actual bank account but must be a South African Resident, 18 years or older, with a valid South African ID. The user also needs to be an active MTN customer to qualify for selected promotional offers.
Initial functionality of MoMo allows users to:
- Send money to any working cell phone number in SA;
- Buy prepaid services like electricity, data and SMS bundles.
- Pay for purchases at selected till points.
- Perform Cash In and Cash Out transactions at any MTN store or Mobile Money Agents.
No minimum balance will be required. There are no monthly finance charges and no automated debits. MTN customers can get cash back every time they buy something at selected Merchants and there will be a promotional offer of 100% bonus for users who buy MTN Airtime bundles using MoMo will get a free SMS notification every time they use the service. Customers may visit nearest MTN store and speak to a MoMo Ambassador for more information.
We look forward to demonstrating these features to South African’s and media in the new year.
“We see MoMo playing a significant role to both the man on the street, by empowering our customers to make positive financial decisions, as well as the South African economy by enabling enterprise development at the formal and informal level,” concludes Kamenga.