Why telecom giant is selling 60% of MoMo PSB to parent company

MTN Nigeria's shareholders have given their approval for the sale of a 60% stake in its fintech arms, MoMo Payment Service Bank (PSB) and YDFS, to the parent company. This strategic decision is aimed at allowing MTN Nigeria to concentrate on its core telecommunications operations while also seeking regulatory clarity in the fintech sector. The move reflects the company's commitment to streamline its business focus amid evolving market dynamics.

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