MTN and Ericsson (NASDAQ: ERIC) won the 2022 Mobile Financial Services Mastery Award Global Telecom (Glotel) Awards, held at London, England.

The award recognizes MTN’s Mobile Money open application programming interfaces (APIs), as well as business innovation and excellence in advancing and transforming today’s telecommunications industry.

MTN Mobile Money (MoMo), powered by the Ericsson wallet platform, is a fintech solution actively used by over 63 million people in 17 markets. In Q3 2022, MTN MoMo saw a 23.3% increase in active users compared to 2021 and a 32.7% increase in transaction volumes to 9.5 billion transactions.

To accelerate the growth of mobile financial services and encourage innovation in Africa, MTN has made its MoMo platform available to third parties by launching the MoMo Open API Platform and Developer Portal. MTN MoMo Open APIs create an inclusive partner ecosystem by providing all developers and programmers with free access to the proprietary MTN Mobile Money software platform. This enables developers and programmers to create innovative digital financial services and applications, meeting the growing financial needs of Africa.

Cedric NguessanExecutive-Group Fintech Business Development at MTN says: “We are delighted to receive the Glotel award with our technology partner Ericsson for MTN Mobile Money Open APIs. This award is a testament to the great impact Mobile Money Open APIs are having in accelerating fintech innovation in Africa. Through Mobile Money APIs, we have created an inclusive ecosystem open to everyone to increase the business and social benefits of mobile financial services.

The MoMo Developer Portal provides an API sandbox that allows developers to thoroughly test their applications before putting them into production. The portal also digitizes documentation, speeding up the process, and provides developer support.

Hossam KandeelVice President and Head of MTN Global Customer Unit and MTN Africa Customer Unit at Ericsson said: ‘This award strengthens MTN’s position in facilitating mobile financial services as well as from Ericsson ability to provide a state-of-the-art mobile wallet platform. Together, MTN and Ericsson are driving the transformation to provide more open, secure and easily accessible mobile money platforms, creating a more interconnected and transparent financial ecosystem.

The MoMo API platform was launched by MTN and Ericsson in 2018 in Uganda and has been extended to other countries, including Ghana, Zambia, Cameroonin Swat, Ivory Coast, Benign, Rwanda, GuineaConakrycongo, South Africaand Liberia. Currently, 23,961 developers are working to extend their innovations with MTN MoMo Open APIs in the platform sandbox and 1,656 partners are in production. MTN MoMo Open APIs successfully processed over 287.5 million financial transactions in 2022.


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Ericsson enables communication service providers to take full advantage of connectivity. The company’s portfolio covers Networks, Cloud software and services, enterprise wireless solutions, global communication platform and technologies and new businesses. It is designed to help our customers go digital, increase efficiency and find new sources of revenue. from Ericsson investments in innovation have brought the benefits of mobility and mobile broadband to billions of people around the world. Ericsson the stock is listed on Nasdaq Stockholm and Nasdaq New York.

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