In a groundbreaking move to reshape Africa’s digital commerce landscape, MTN Group Fintech, in collaboration with Paysky, has officially launched Market by MoMo.
This innovative e-commerce platform provides Ugandan merchants and consumers with a seamless online marketplace experience, offering a diverse range of products, including electronics, groceries, fashion, and beauty items. The platform is designed for maximum convenience, reliability, and security, integrating advanced payment solutions and fast delivery services.
Empowering Uganda’s Digital Economy
Paysky, a leading digital payment solutions provider, played a key role in co-developing Market by MoMo alongside MTN Fintech. The initiative marks a significant milestone in Uganda’s digital economy by enabling merchants to expand their market reach while enhancing consumer shopping experiences.
Waleed Sadek, Founder and CEO of Paysky, emphasized the company’s mission to democratize digital financial services across the Middle East and Africa (MEA).
“Since our inception in 2017, Paysky has provided financial services to over half a billion citizens and two million businesses. Our partnership with MTN to launch Market by MoMo is a natural extension of our commitment to delivering secure, flexible, and reliable payment solutions in Uganda,” Sadek stated.
Paysky’s Role in Financial Inclusion
Paysky has been at the forefront of driving financial inclusion across Africa, having equipped central banks in 10 countries with cutting-edge digital financial services platforms. This has accelerated nationwide efforts to expand access to digital financial services.
The launch of Market by MoMo further supports the development of digital ecosystems and empowers local businesses to thrive in an interconnected economy.
“By offering an integrated payment and e-commerce infrastructure, Paysky enhances the value chain of digital financial services, ensuring seamless operations for platforms like Market by MoMo. This enables businesses to broaden their reach and optimize their financial performance,” Sadek added.
A Vision for a Digital Future
Richard Yego, Managing Director & CEO at MTN Mobile Money Uganda, emphasized the broader impact of this initiative: “We are dedicated to building an inclusive and digitally connected Africa. Market by MoMo is a vital part of our strategy to foster a more integrated digital future, linking consumers and businesses on one seamless platform.”
Hesham Safwat, MTN Fintech Group Head of Fincommerce, highlighted the power of strategic collaboration: “This launch exemplifies the strength of partnerships. By joining forces, MTN Group Fintech and Paysky are creating an integrated ecosystem that connects Uganda’s merchants to millions of potential customers, empowering businesses and individuals alike.”
Expanding Horizons: Regional Expansion Plans
Following the successful launch in Uganda, Paysky and MTN Group Fintech are gearing up for the broader rollout of Market by MoMo across multiple African markets. This ambitious initiative is set to reach over 100 million users, enabling businesses to tap into new opportunities while providing consumers with a seamless and secure shopping experience.
By fostering digital financial inclusion, this partnership is set to transform Africa’s e-commerce landscape, unlocking economic opportunities for merchants and consumers alike.
About Paysky
Founded in 2017 by Waleed Sadek, Paysky is a leading provider of digital payment infrastructure across the Middle East and Africa (MEA).
The company is committed to financial inclusion, partnering with central banks, financial institutions, and telecom operators to drive digital transformation across 18 countries. Paysky continues to innovate and expand its digital solutions, contributing to the growth of the digital economy and supporting local businesses.
About MTN Group Fintech
As Africa’s leading financial technology provider, MTN Group Fintech is transforming digital financial services through its MoMo platform and other fintech solutions. By offering secure, accessible, and innovative financial services, MTN is at the forefront of Africa’s digital revolution, fostering economic inclusion and growth.
