Telecommunication companies in Nigeria are gearing up to challenge the dominance of fintech operators in the mobile money space.
They are therefore listing their fintech arms in the capital market to raise money for the competition.
MTN and Airtel, with an 86.26 percent market share of mobile connections, are preparing Initial Public Offerings (IPOs) to raise capital and accelerate growth.
This move comes as fintech players like OPay and PalmPay continue to lead Nigeria’s mobile money surge. In 2024, they led the country’s mobile money