MTN Group Fintech has partnered with Paysky to introduce Market by MoMo, an innovative e-commerce platform aimed at transforming the digital marketplace in Uganda. This platform is designed to offer consumers and merchants a seamless online shopping and selling experience, catering to diverse categories such as electronics, groceries, fashion, and beauty products. With secure payment options and fast delivery services, Market by MoMo aims to enhance convenience, reliability, and flexibility in Uganda’s e-commerce sector.

Driving Uganda’s Digital Economy Forward

Paysky, a key player in digital payment solutions, collaborated closely with MTN Group Fintech to co-develop this platform, marking a milestone in Uganda’s digital economic advancement. This initiative is expected to empower merchants by broadening their market reach while simultaneously enhancing the shopping experience for consumers. The partnership underscores the growing importance of financial technology in driving economic inclusion and digital transformation across Africa.

A Vision for Financial Inclusion

Waleed Sadek, the Founder and CEO of Paysky, emphasized the company's commitment to democratizing digital financial services across the Middle East and Africa. Since its inception in 2017, Paysky has facilitated financial inclusion for over half a billion citizens and two million businesses through cutting-edge payment infrastructure. The collaboration with MTN Group Fintech to launch Market by MoMo aligns with Paysky’s vision of enabling secure, flexible, and reliable digital transactions for businesses and individuals in Uganda.

A Catalyst for Digital Financial Services

Paysky has played a significant role in accelerating financial inclusion by providing central banks across ten African countries with robust digital financial service platforms. This commitment has supported national initiatives to expand digital financial accessibility, helping businesses integrate seamlessly into the digital economy. By launching Market by MoMo, Paysky continues to enhance the digital financial services landscape, offering local businesses the tools needed to thrive in an increasingly connected world.

MTN Group Fintech’s Commitment to Inclusion

Richard Yego, Managing Director and CEO of MTN Mobile Money Uganda, highlighted the broader vision behind Market by MoMo, stating that the initiative is a crucial step in creating a more connected and inclusive digital future for Africa. By bridging the gap between merchants and consumers, the platform seeks to drive equitable economic participation across Uganda. This effort aligns with MTN Group Fintech’s broader strategy to empower communities through innovative financial solutions.

Collaboration as a Driving Force

Hesham Safwat, MTN Fintech Group Head of Fincommerce, emphasized the role of collaboration in bringing Market by MoMo to life. He noted that the partnership between MTN Group Fintech and Paysky showcases how joint efforts can foster meaningful digital advancements, linking Ugandan merchants to millions of potential customers. By integrating digital commerce with secure financial transactions, the initiative is set to reshape how businesses and consumers engage in online trade.

Expanding Across Africa

Following the launch in Uganda, MTN Group Fintech and Paysky plan to extend Market by MoMo to multiple other countries within MTN’s footprint. This expansion will enable businesses across Africa to access a growing digital marketplace while providing consumers with a diverse range of products and seamless payment options. With a potential reach of over a hundred million users, this initiative represents a significant step in expanding Africa’s e-commerce landscape.

By leveraging their expertise in digital payments and financial technology, MTN Group Fintech and Paysky are driving forward Africa’s digital financial inclusion agenda. Their collaboration aims to unlock new opportunities for merchants and consumers, fostering economic growth and digital empowerment. As Market by MoMo expands across the region, it will continue to redefine the way businesses and individuals engage with digital commerce.