MTN Group’s Mobile Money Application Interface (API) is inviting developers in Ghana and across several markets to participate in an Open API Hackathon, with a challenge to create a mobile application that uses MoMo APIs for use in their markets.
The hackathon will be the second conducted by MTN Group Fintech and will take place in the following countries: eSwatini, Zambia, Congo Brazzaville, Rwanda, Uganda, Cameroon, Benin, Cote d’Ivoire, Ghana and Guinea Conakry.
Developers will compete to create an innovative application for the markets in which they are registered, which can process financial transactions with added capabilities that go beyond processing payments and drive both financial inclusion and literacy.
“MTN is committed to extending financial and digital inclusion across the continent in furtherance of its strategy to build a Pan-African Fintech platform that will power the digital economy and serve as a catalyst for social and economic growth in Africa.
“With our Open API Platform, we reach out to Africa’s resourceful talents and enable them to grow and create opportunities by leveraging our MoMo Platform. We have no doubt that it is by collaborating with the talents of Africa that we will expand the service offering available on MoMo”.
Serigne Dioum, MTN Group Chief Fintech Officer
A statement issued by MTN Group noted that the challenge runs from July 18, 2022 until September 9, 2022. According to MTN, developers will have 4 weeks to submit their idea of an innovative financial and transactional app that must include the usage of MTN Mobile Money APIs
The developers are also required to create a mobile application that uses MTN MoMo APIs; the mobile application needs to target consumers, merchants or businesses.
The application must provide a practical and valuable solution that can be deployed in the market where the applicants have registered and can cover use cases beyond payment but must utilize MTN MoMo APIs.
MTN, in each participating country, will select the top 12 applicants to progress to the prototyping phase. The preselected applicants will be required to make a live demo of their application to the adjudicator. Finalists stand the chance to win up to USD5,000 in prize money in their respective country. The second and third best developers will receive USD3,000 and USD2,000, respectively.
MTN MoMo fintech platform
MTN MoMo is a fintech platform offering consumers and businesses a host of innovative digital financial services. Among other things, it allows users to access payment, e-commerce, insurance, lending and remittance services, available in 17 markets across Africa.
“We want to unlock economic growth through financial and digital solutions for consumers and businesses of all sizes. As we grow our service offering, we aim to create a marketplace that supports cashless and digital economies through affordable, inclusive, understandable and comprehensive financial services.
“We play a key role in the evolution of mobile financial services (MFS) to mobile financial (fintech) platforms by offering in-store payments, remittances, prepaid services, mobile wallets, micro-loans and micro-insurance”.
MTN Group
The range of solutions to bridge the financial services gap in the markets in which MTN operates, requires partnerships with financial service providers, regulatory authorities, other mobile network operators, merchants, distributors, businesses, technology providers, entrepreneurs and developers.
MTN Group noted that it is by working with its partners that it can improve the economic and social well-being of millions of Africans.
In its commitment to closing the financial inclusion gap, MTN Group has made its Mobile Money platform available across its entire footprint through the MoMo API program.
MTN is now looking for companies, entrepreneurs and developers across the continent to innovate and leverage mobile money to accelerate financial inclusion and digitize payments. As such, MTN stated that it is delighted to invite developers and entrepreneurs from 10 countries to participate in the MoMo API Hackathon.
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