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YDFS empowers 1,004 youths as MoMo Agents within the Kano Emirate.

Y’ello Digital Financial Services (YDFS), the fintech subsidiary of MTN Nigeria, empowers 1,004 youths as MoMo Agents within the Kano Emirate.

Y’ello Digital Financial Services (YDFS), the fintech subsidiary of MTN Nigeria has empowered over 1000 youths as MoMo Agents within the Kano Emirate. The Emir His Royal Highness, Alhaji Aminu Ado Bayero of Kano in his coronation as the 15th Emir of Emir of Kano inaugurated the new MoMo agents.

Speaking at the inauguration ceremony, the Emir of Kano, Alhaji Aminu Ado Bayero said, “I especially want to appreciate YDFS for always collaborating with the Kano Emirate Council to create value-adding opportunities capable of enhancing the economy, while also empowering the youths through their product and service offerings."

“We appreciate this collaboration, which is the first of its kind in the country because it will guarantee economic stability and good living conditions for the beneficiaries of this initiative. We believe this is a step in the right direction as we are confident of the economic growth we are going to witness in our villages and districts."

In 2019, YDFS rolled out MoMo Agent Services across Nigeria, to provide safe and accessible money transfer services to financially under-served communities, and to deepen financial inclusion, particularly in the northern region of Nigeria.

Y’ello Digital Financial Services is committed to ensuring that every Nigerian can seamlessly access financial services for their personal and business needs. This they do through continuous partnerships, to support the 2024 financial inclusion strategy of the federal government.

Usoro Usoro, Chief Executive Officer, YDFS, commended the Emir for the opportunity, noting that the essence of the initiative is to close the financial exclusion gap in the country.

“We recognise the economic importance of having access to financial services across the country. This is because of the massive direct impact it has on the quality of life of the people."

“Having understood the non-availability of bank branches across the entire country, we have secured a partnership with the Central Bank of Nigeria (CBN) and our principal bank, Access Bank, to roll out agent networks across the entire district of the Kano Emirate. We are rest assured that this will boost the economic viability of the region, while also contributing positively to the generality of youth development,” he said.

Nigeria in focus

GDP: $432.294 billion in 2020 compared to $448.12 billion in 2019

Population: 206,139,587 in 2020 compared to 200,963,03 in 2019

GDP per capita: $2,097 in 2020 compared to $2,229 in 2019