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How Did MTN MoMo Hackathon Winners Create Financial Magic for Financial Inclusion

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MoMo Hackathon 2023 was a stage set for innovation, collaboration, and financial brilliance. Developers, innovators, and entrepreneurs across Nigeria converged to showcase their skills, creativity, and determination to create innovative applications using MTN’s Mobile Money (MoMo) APIs. After intense competition, the spotlight shone on the winners, and they answered the $10,000 question: How did they create financial magic?

  1. Winner: Rova Pay

Oluwapelumi Yusuf emerged as the winner of the MTN MoMo Hackathon 2023, clinching the prestigious USD 5,000 cash prize. His invention, Rova Pay, was a testament to his innovative prowess and ability to leverage MoMo’s APIs uniquely.

Rova Pay introduces an innovative method allowing users to conduct transactions effortlessly, anytime and anywhere, using automated USSD. This technology eliminates the necessity for internet access and manual code dialling, offering enhanced convenience to customers.

Yusuf expressed that Rova Pay extends financial services to marginalized communities facing internet accessibility challenges. He aimed to ensure that individuals without internet connectivity could benefit from digital financial services.

Yusuf demonstrated how, with MoMo’s advanced APIs (V2.1 – Notification, KYC, Auth. and V2.2 – Channel as a service), one could create a mobile application that redefined financial transactions and user experiences. His solution was not just a piece of technology; it was a vision of a more accessible and efficient financial future for Nigerians and Africans.

  1. The Second Runner UP: MoMo Cash

While Oluwapelumi Yusuf took home the grand prize, the second runners-up, Marvis Igbokwe and Favour Ajie Divine, also made their mark, receiving USD 3,000  for inventing MoMo Cash.

Inspired by the need to create a system that awards both consumers and producers, MoMo cash is a solution that rewards consumers who perform MoMo tasks with MoMo coins that they can leverage to pay bills or run other transactions.

Their projects showed that financial magic is not exclusive to the winner’s circle. These developers demonstrated an exceptional knack for harnessing MoMo’s APIs to address real-world fin-tech challenges.

  1. The Third Runner UP: Clinique Plus Pay

Isaac Odinaka Franklin’s solution, Clinique Plus Pay, won third place with a cash prize of USD 2,000.

Clinique Plus Pay is a platform designed specifically for healthcare institutions. The solution enables patients to save toward healthcare, offering them the option to accumulate funds in their MoMo wallet that they can utilize when in need of medical care.

Isaac’s motivation for Clinique Plus Pay originated during his service year at a military hospital. He observed the difficulties healthcare workers encountered in accessing soldiers’ medical records. This discovery sparked his idea to develop a digital platform for storing medical histories. For Isaac, integrating the MoMo payment system was key to improving the solution, enabling patients to pay for healthcare services.

Isaac’s solution integrated MoMo APIs and illustrated the ingenuity and resourcefulness that financial technology developers can offer. Clinique Plus Pay was a standout solution at the hackathon as it addressed an important, but often overlooked sector -healthcare.

What’s Next for MoMo PSB?

The MTN MoMo Hackathon 2023 was more than just a competition; it was a celebration of innovation and a glimpse into the future of financial technology. The event underscored MoMo’s commitment to fostering innovation and supporting developers in their quest to create financial solutions that make a positive impact.

MoMo PSB is fostering financial inclusion and innovation in Nigeria. By providing a platform for developers to utilize MoMo’s capabilities, the brand aims to create opportunities for growth and drive financial services to the next level.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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New Investment Fund Targets Acceleration of Emerging Technology in Nigeria

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The International Rescue Committee (IRC) has announced the formation of Airbel Ventures, a new humanitarian impact investing fund aimed at accelerating the introduction and scaling of breakthrough technologies in crisis-affected communities.

The fund will invest in companies whose ideas have the potential to change humanitarian response, including digital infrastructure for frontline health systems and climate-resilient agriculture.

The launch of Airbel Ventures follows a period of rapid innovation at the IRC, despite the humanitarian sector facing record funding cuts.

In the past year, the IRC’s Airbel Impact Lab has advanced more than twenty Artificial Intelligence (AI) and technology initiatives—from anticipatory action tools powered by climate and vulnerability data, to frontline service delivery using safe, orchestrated AI systems, to breakthrough diagnostic tools for emerging diseases.

Airbel Ventures’ first impact investment is in Signalytic, a company delivering solar-powered computing devices that ensure reliable electricity and connectivity for remote health facilities.

Following the investment, the IRC will pilot Signalytic’s technology with its Nigeria Health team, demonstrating the viability of next-generation digital infrastructure in humanitarian settings.

“We know breakthrough solutions already exist—what’s missing is the path to scale in humanitarian contexts,” said Dr. Jeannie Annan, Senior Vice President for Research & Innovation at the IRC and head of the Airbel Impact Lab.

 


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MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

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MTN Nigeria, the country’s largest telecommunications operator, recorded a historic surge in network disruptions in 2025, suffering 9,218 fibre cuts as of December 31, alongside 211 base station sites affected by theft and vandalism, incidents that disrupted mobile and data services relied upon daily by millions of Nigerians.

MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

The data was revealed by Dr Karl Toriola, chief executive officer/managing director, MTN Nigeria via a social media post titled ‘MTN Nigeria 2025 Wrapped’.

The scale of the damage highlights the growing vulnerability of Nigeria’s telecommunications infrastructure, which has come under increasing pressure from road construction activities, cable theft and deliberate acts of vandalism.

MTN said 5,478 fibre cuts occurred within just the first seven months of 2025, with 760 incidents recorded in July alone, underscoring the intensity of the challenge.

Some of the incidents had wide-ranging consequences, knocking out connectivity across multiple states simultaneously and affecting voice calls, data services, digital payments and enterprise operations.

The company described the situation as a national infrastructure problem, rather than an isolated corporate issue, given the economy’s deep dependence on mobile networks.

“These gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism. Their impact is felt directly by customers and reflected in what they tell us,” Toriola,

The disruptions were reflected in customer feedback volumes, as MTN handled an unprecedented number of complaints during the year. The operator said it resolved 1,624,263 customer complaints in 2025, spanning call centres, social media platforms, emails and physical service centres nationwide.

Despite the setbacks, MTN pointed to signs of operational resilience. The company retained its ranking as Nigeria’s best network by Ookla, returned to profitability after a challenging period, declared an interim dividend, and expanded its subscriber base to over 85 million users by September 2025.

The figures show that while Nigeria’s telecom operators continue to invest heavily in network expansion and customer service, infrastructure sabotage remains a major drag on service quality and operating costs.

MTN acknowledged that performance improvements remain a work in progress. “We are not where we want to be yet. We see you. We hear you. We exist because of you. And we will get better,” Toriola said.

As the company enters its 25th year of operations in Nigeria, Toriola said MTN is doubling down on customer-centricity, treating every piece of feedback as a guide for improvement, while also stepping up engagement with government agencies.

The CEO renewed calls for stronger regulatory and legal protections for telecommunications infrastructure, urging policymakers to classify fibre cables, base stations and other critical assets as national infrastructure and criminalise vandalism to deter repeat attacks.


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NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

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Nigerian Communications Commission (NCC) has granted operating licences to six new Internet Service Providers (ISPs), effective January 1, 2026, raising the total number of authorised ISPs in the country to 231 from 225 recorded in December 2025.

NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

NCC

The newly licensed firms are Intellvision Technologies Limited, Granet Technologies Limited, Fiber Sonic Limited, Dasol Solution Services Ltd, Boost ISP Limited, and Amazon Kuiper Nigeria Limited.

Five of these companies are headquartered in Lagos, while Granet Technologies Limited operates from Owerri in Imo State, highlighting the persistent concentration of broadband infrastructure in major commercial hubs like Lagos, Abuja, and Port Harcourt.

This development intensifies competition in Nigeria’s broadband market, which faces pressure from dominant mobile network operators such as MTN and Airtel, alongside rapid expansion by satellite providers like Starlink.

Traditional ISPs continue to grapple with shrinking customer bases, aggressive data pricing from telcos, and satellite disruptions, even as NCC data from Q2 2025 showed Spectranet, Starlink, and FibreOne controlling about 65 per cent of the 313,713 active ISP subscribers.

The inclusion of Amazon Kuiper Nigeria Limited marks a significant entry of global satellite broadband competition, building on Nigeria’s recent approvals for other low Earth orbit providers to enhance connectivity in underserved areas.

Industry analysts view the licences as a strategic push to improve internet quality amid rising demand for digital services, though geographic clustering underscores ongoing infrastructure challenges outside urban centres.

NCC’s move aligns with broader efforts to foster a competitive telecoms sector critical to Nigeria’s digital economy ambitions.


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