MTN MoMo Corporation obtains COBAC authorization

By Ndumbe Bell Joseph Gaston in Douala The subsidiary of one of the leading mobile telephonies of Cameroon, MTN MoMo Corporation, has declared that they have obtained an agreement  with the COBAC financial regulatory institution for CEMAC and the Ministry of Finance that now recognizes MTN MoMo Corporation as a payment institution.The recognition henceforth reinforces their role as financial players and further creates opportunities to their customers and also provides assurances and legitimacy in the records of other financial institutions such as BEAC, commercial banks and micro financial institutions. The declaration was made live by the General Manager, Alain Nono…