According to TechCabal, Eli Hini, CEO of MTN’s MoMo Payment Service Bank (PSB), and Elsa Muzzolini, Chief Commercial Officer, have left the company.
Muzzolini joined M-PESA Ethiopia, Safaricom’s mobile money business as CEO on July 15.
Details
Eli Hini and Elsa Muzzolini joined MoMo PSB in 2022 and were in charge of leading growth strategies in Nigeria.
Phrase Lubega, the company’s group executive for fintech commercial operations, has been named the acting CEO.
Flashback
MTN Nigeria launched its financial services subsidiary and platform MoMo Payment Bank Service (MoMo PSB) following a successful pilot in May 2022.
By The Numbers
MoMo grew mobile money wallets by 55.8% to 5.5 million in H1 2024 from 3.1 million in H1 2023. Fintech revenue grew by 11% driven by increased wallet and MoMo app adoption.
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