More Africa NewsMTN’s Ayoba Super App Gains 28.3 Million Users in 6 Months, Driving Digital Expansion

August 16, 2023by myles0

MTN’s Ayoba Super App has announced that they gained 28.3 Million Users in 6 Months. Ayoba’s success underscores Africa’s super app trend, targeting unbanked populations with telecom-backed financial services. Leading markets include Nigeria, Cote d’Ivoire, Cameroon, and Ghana.

As telecoms like MTN Group seek diversification, financial services are proving pivotal. The company’s CEO, Ralph Mupita, highlights Ayoba’s growth, boosted by enhanced user experience and music services.

Early monetisation proof-of-concept initiatives, like display ads and premium sales, further drive Ayoba’s success.

Ralph Mupita, CEO, MTN Group

MTN’s digital revenue grew 8.0% YoY to R1.8 billion, led by Nigeria’s 50% revenue surge, counterbalancing slower performances in South Africa and Ghana. The telecom expands its offerings, partnering with Amazon Prime Video, Apple Music, and Disney+.

Enterprise revenue climbed 24.8% YoY, supported by platform transformation strategies. MTN SA’s 9.3% growth benefited from data products and distribution expansion, while MTN Nigeria’s revenue soared by 49.4%, driven by mobile and fixed connectivity services.

Wholesale revenue rose 32.3%, bolstered by strong national roaming performance in MTN SA, including successful partnerships with Cell C and Telkom. Mupita sees these results as a testament to the digital transformation shaping Africa’s telecom landscape.

Source: Tech Africa News

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