MTN announces new exec for fintech unit

MTN Group has appointed M. Mudassar Aqil as Executive: BankTech in its Fintech business, MoMo, effective from 1 August 2023. BankTech is one of the five verticals in MTN Fintech, serving over 69 million monthly active users across 16 markets.

Mudassar Aqil brings extensive experience in the financial services industry, including a 12-year tenure as a CEO in the banking and fintech space. His expertise encompasses banking regulation, lending, payments, and platform strategy, making him a valuable addition to the team.

Over his 25-year career, Mudassar has held senior executive roles in the financial services and fintech sectors in the United States and Pakistan. He has achieved significant successes, such as turning around two banks and a wallet platform, transforming them into profitable market-leading entities.

Prior to joining MTN, Mudassar served as CEO at Telenor Microfinance Bank & Easypaisa, a joint venture between Telenor Group and Ant Group, in Pakistan since 2019. During his tenure, he led the bank to profitability, tripled the wallet business to 12.5 million monthly active users, making Easypaisa Pakistan’s largest app, and drove digital transformation to revitalize the credit business.

Mudassar holds an MBA from Salisbury University, MD, USA, and has completed the Advanced Management Program at Harvard Business School. Serigne Dioum, Group Chief Fintech Officer, expressed excitement about Mudassar joining the Group Fintech team, highlighting his experience and diverse background, which will contribute to advancing financial inclusion across the continent. Dioum also praised Mudassar’s strategic leadership style, his ability to establish a vision, develop plans, and execute them effectively with well-led teams.