BY MBONO MDLULI
MBABANE – In a groundbreaking development, MTN Mobile Money (MoMo) customers will now be able to receive money from South Africa.
Customers can receive money from that country through MTN MoMo’s partnership with financial platforms such as Mukuru and ClickSendNow. These platforms enable those in South Africa to send money to MTN customers with MoMo wallets.
Today (Monday, December 2, 2024), MTN Fintech (the MoMo company) launched the product. The company informed the nation that it was expanding into the Republic of South Africa, through the MoMo product. The launch took place at MTN Headquarters in Ezulwini.
During the launch, it was revealed that a customer was supposed to be on board with partner platforms such as Mukuru and ClickSendNow to send money from South Africa to Eswatini. The second step requires the sender to initiate a transaction on a sender channel. The third step requires the transaction to be validated to see if it complies with international laws such as anti-money laundering and financing of terrorism legislation. The following step is when the money is disbursed to the MoMo wallet, while the last step enables a MoMo customer to access the funds in his or her MoMo wallet.
MTN Fintech Chief Executive Officer (CEO) Sam Shongwe expressed his honour at the latest development. He expressed great excitement for him and his team to finally launch a ground-breaking innovation that promised to change lives and reshape how money moved between South Africa and Eswatini.
“Today, we proudly unveil a solution designed with one primary goal — to bring families, businesses, and communities closer by making financial transactions simple, affordable, and convenient. This is not just a financial product, but a bridge that connects loved ones, empowers small businesses and ensures that no one is left behind in the digital financial revolution,” Shongwe said.
Shongwe said for years, sending and receiving money across borders had been a challenge for many. According to Shongwe, families have struggled to support one another due to lengthy processes, high costs, and geographical barriers. But with the launch of this service, the MoMo Cross-Border Service, Shongwe said they were saying goodbye to those constraints. He said MoMo made it possible for customers in South Africa to send money directly to MoMo wallets in Eswatini – with no paperwork, no queues, and no hassle for the recipient.
The CEO described MoMo as more than just a wallet but a gateway to vast opportunities. Over the years, Shongwe said MoMo had grown to accommodate customers’ evolving needs, bringing solutions that address real challenges. From sending and receiving money to paying bills, buying groceries, airtime, and data bundles, MoMo offers a one-stop platform for modern living. With this cross-border service, Shongwe said they were taking a significant step in expanding financial inclusion.
“We are creating opportunities for individuals and businesses to thrive, regardless of where they are. Whether it’s a parent supporting a child in Eswatini, a trader growing their business, or a family coming together in need, MoMo ensures that money moves quickly, securely, and affordably,” Shongwe said.
Meanwhile, Central Bank of Eswatini (CBE) Deputy Governor Felicia Dlamini-Kunene described MTN Fintech’s move as being courageous. She congratulated the company and said it was a stepping stone towards the country’s financial inclusion goals.
