Kampala, Uganda – MTN Group Fintech, in partnership with Paysky, has officially
launched Market by MoMo, a groundbreaking e-commerce platform designed to
provide Ugandan Merchants and consumers with a seamless online marketplace
experience.
Market by MoMo offers a one-stop solution for buying and selling a wide range of
products, including electronics, groceries, fashion, beauty products, and more. This
innovative platform combines convenience, reliability, and flexibility with features such
as secure payment and fast deliveries.
Empowering Uganda’s Digital Economy
In close collaboration with MTN Fintech, Paysky, a leading provider of digital payment
solutions, played a pivotal role in co-creating this transformative platform. Market by
MoMo marks a significant milestone in advancing Uganda’s digital economy, fostering a
dynamic partnership that empowers Merchants to expand their reach while enriching
the consumer shopping experience
Waleed Sadek, Founder and CEO of Paysky, emphasized the company’s vision to
empower businesses and individuals across the Middle East and Africa (MEA) region
through cutting-edge payment infrastructure. “Since our inception in 2017, Paysky has
been committed to democratizing digital financial services and so far has achieved that
for over half a billion citizens and two million businesses. Our collaboration with MTN to
launch Market by MoMo is a natural extension of this mission, bringing secure, flexible,
and reliable payment solutions to Uganda,” he said.
Paysky’s Role in Financial Inclusion
Paysky has been instrumental in driving financial inclusion across the African continent
by providing central banks in 10 countries with world-class digital financial services
platforms. This commitment to innovation and inclusion has accelerated national
campaigns aimed at increasing access to digital financial services. With the launch of
Market by MoMo, Paysky continues to support the growth of digital ecosystems and
empower local businesses to thrive in an increasingly connected world.
“By providing a seamless payment and e-commerce infrastructure, Paysky advances
digital financial service value chain and enables the smooth operation of e-commerce
platforms like Market by MoMo, allowing businesses to expand their reach and improve
their financial performance,” said Sadek.
Richard Yego, Managing Director & CEO at MTN Mobile Money Uganda, spoke about
the significance of this initiative: “We are committed to building a more equitable,
connected, and empowered society. Market by MoMo is an integral part of our strategy
to create a brighter and more inclusive digital future for Africa, bringing together
consumers and businesses in a seamless digital marketplace.”
Hesham Safwat MTN Fintech Group Head of Fincommerce, highlighted the importance
of collaboration in making this vision a reality: “This launch is a testament to the power
of partnerships. By working together, MTN Group Fintech and Paysky are delivering an
integrated platform that connects Uganda’s Merchants to millions of potential
customers, empowering individuals and businesses alike.”
Expanding Horizons: MTN Group Fintech and Paysky’s Regional Plans
In addition to the successful launch of Market by MoMo in Uganda, Paysky and MTN
Group Fintech are also collaborating on the upcoming launch of the Market by Momo
across many of the countries covered by MTN Group Fintech. This expansive initiative
will bring the benefits of a digital marketplace to over a hundred million users across
Africa, enabling businesses to tap into new markets while offering consumers access to
a wide variety of products with seamless, secure, and flexible payment options.
The partnership between MTN Group Fintech and Paysky aims to further drive digital
financial inclusion and transform the e-commerce landscape in the region, unlocking
new opportunities for both Merchants and consumers.
About Paysky
Founded in 2017 by Waleed Sadek, Paysky is a leading provider of digital payment
infrastructure across the Middle East and Africa (MEA). With a mission to democratize
financial services empowering businesses, financial institutions, and individuals, Paysky
is helping shape the future of the digital economy. Through strategic collaborations with
central banks, financial institutions, and telecom operators, Paysky has enabled
financial inclusion and digital transformation of financial services across 18 countries.
The company continues to drive growth by expanding its digital solutions and services
across the MEA region, contributing to the empowerment of local businesses and the
advancement of the digital economy.
About MTN Group Fintech
MTN Group Fintech is Africa’s leading financial technology provider, committed to
revolutionizing digital financial services across the continent. Through its MoMo platform
and other fintech solutions, MTN Group Fintech empowers millions by providing secure,
accessible, and innovative financial services. The company’s vision is to lead Africa’s digital financial revolution through technology-driven solutions that foster economic
inclusion and growth.
