MTN Group, a leading telecommunications company, has announced the appointment of M. Mudassar Aqil as the Executive for BankTech in its Fintech subsidiary, MoMo, effective from August 1, 2023. BankTech is one of the five verticals within MTN Fintech and currently serves a vast user base of over 69 million monthly active users across 16 markets.
Mudassar Aqil, with a robust background in the financial services industry, is set to bring his extensive expertise to his new role. With a remarkable 25-year career, including a 12-year tenure as a CEO in both the banking and fintech sectors, Mudassar brings a deep understanding of banking regulations, lending, payments, and platform strategies.
Throughout his career, Mudassar has held significant executive positions in the financial services and fintech sectors, operating in both the United States and Pakistan. Notably, he accomplished turning around two banks and a major wallet platform during his time as CEO, transforming them into successful and leading entities in their respective markets.
Most recently, Mudassar held the position of CEO at Telenor Microfinance Bank & Easypaisa, a renowned joint venture between Telenor Group and Ant Group, in Pakistan since 2019. Under his leadership, the bank regained profitability, saw substantial growth in the wallet business with 12.5 million Monthly Active Users (MAUs), and undertook a digital transformation that revitalized its credit business.
Mudassar holds an MBA from Salisbury University, MD, USA, and is also an alumnus of the Advanced Management Program at Harvard Business School.
Serigne Dioum, Group Chief Fintech Officer, expressed the company’s delight in welcoming Mudassar to the Group Fintech team. Dioum highlighted Mudassar’s rich experience in the financial services sector and diverse background, which is expected to play a pivotal role in advancing the company’s commitment to promoting financial inclusion across the African continent.
Dioum further emphasized Mudassar’s reputation as a strategic yet pragmatic leader, known for his hands-on approach to business. The appointment is seen as a strategic move to continue MTN’s pursuit of innovation and growth in the fintech space.
The appointment of Mudassar Aqil marks a significant step for MTN Group’s Fintech division and demonstrates the company’s commitment to delivering impactful financial solutions to its users across various markets. The company extends its congratulations to Mudassar and wishes him success in his new role.
