MTN's MoMo PSB appoints ex-Flutterwave exec Bode Abifarin as CEO

MTN's MoMo PSB has appointed former Flutterwave executive Bode Abifarin as its new Chief Executive Officer, Techpoint Africa reported in its Wednesday digest. The appointment places a payments industry veteran at the head of the telecom operator's payment service bank in Nigeria, one of Africa's most competitive mobile money markets.

Abifarin joins MoMo PSB after serving in leadership roles at Flutterwave, the African payments infrastructure company that has grown into one of the continent's most prominent fintech firms. The hire signals MTN's emphasis on bringing seasoned fintech operators into its financial services division as the company positions mobile money as a core growth engine beyond traditional telecom revenue.

MoMo PSB operates under a payment service bank license issued by the Central Bank of Nigeria. The license allows the unit to offer deposit-taking and payment services to individuals and small businesses, with a particular focus on financially underserved populations who may not have access to conventional banking products. MTN has repeatedly identified its fintech arm as a priority investment area, and the onboarding of a high-profile fintech executive reflects that strategic direction.

The appointment was announced alongside two other developments in the digest. Timon, a fintech venture, is building financial services aimed at enabling cross-border transactions for a borderless world — a theme that resonates across the African payments landscape as companies seek to reduce the friction of moving money across national borders. Starlink, the satellite internet service operated by SpaceX, has officially launched in Equatorial Guinea, expanding the connectivity footprint of low-Earth orbit satellite internet in Central Africa.

The convergence of these three stories in a single digest highlights broader patterns in Africa's digital economy. Mobile network operators are evolving into financial services providers, fintech startups are targeting remittance and cross-border payment corridors, and satellite connectivity providers are entering markets where terrestrial broadband infrastructure remains limited. Leadership appointments such as the one at MoMo PSB are notable because they determine the execution capacity of companies operating at the intersection of telecom infrastructure and financial services.

For MoMo PSB specifically, the appointment comes at a time when competition in Nigeria's payment service bank segment has intensified. Multiple licensed operators are vying for customers who often rely on informal or cash-based financial arrangements. The choice of an executive with experience in a high-growth fintech environment such as Flutterwave suggests a mandate to accelerate product development, partnerships, and user adoption.

The full Techpoint Digest carries additional detail on the appointment and the other stories covered. The announcement was originally shared by Techpoint Africa on X, directing readers to the complete digest for the full scope of the day's coverage.