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Wireless

MTN Cameroon expands MoMo capitalisation in line with rules, changes directors

Tuesday 21 July 2020 | 12:10 CET | News
MTN Cameroon subsidiary Mobile Money Corporation has increased its MTN MoMo capital from XOF 50 million to XOF 850 million, Business in Cameroon reported, citing a legal notice made public on 14 July. According to Regulation R-2019/02 of the Central African Banking Commission (COBAC) relating to prudential norms applicable to payment services providers, it is mandatory for operators to have a capital of at least XOF 500 million.

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Categories: Mobile & Wireless
Companies: MTN Cameroon / Nexttel / Orange Cameroon
Countries: Cameroon
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