PRESS RELEASE:
AIRVANTAGE Powers MTN MoMo’s New Handset Rent-to-Own Solution to Unlock Smartphone Access to Millions in South Africa.
Johannesburg, South Africa
AIRVANTAGE is proud to be chosen to power MTN MoMo’s newly launched Handset Rent-to-Own product – an innovative smartphone rental solution aimed at expanding digital access and financial inclusion across South Africa.
In a country where millions of adults still lack access to a smartphone, MoMo’s Handset Rent-to-Own offers an affordable path into the digital economy. According to Statista, the number of smartphone users in South Africa is expected to grow by 12 million between 2024 and 2029, an increase of 86.83%.
Available through the MTN MoMo App, the service allows customers to choose a device, pay a deposit, and complete their purchase through monthly instalments starting from just R414, all managed in-app. Once approved, devices are conveniently delivered straight to customers’ doorsteps.
“We’re very pleased to partner with MTN MoMo to power this impactful product,” said Mark Collie, Co-founder at AIRVANTAGE. “Smartphone access shouldn’t be a luxury, it’s a lifeline to opportunity. With this solution, we’re helping customers unlock digital services, education, and financial tools that were previously out of reach.”
As part of the DNi Group, a diversified investment powerhouse with more than US$500 million in revenue and US$100 million in available debt facilities, AIRVANTAGE delivers fast-to-market, zero-risk, zero-cost financial solutions that drive meaningful growth and customer retention for partners.
MTN MoMo echoed the significance of the initiative: “We’re committed to financial and digital inclusion, and we believe technology should be accessible to everyone,” said Kagiso Mothibi, CEO Fintech at MTN SA. “By partnering with AIRVANTAGE, we’re combining innovation and affordability to bring life-changing services to millions of South Africans.”
About AIRVANTAGE (Pty) Ltd
AIRVANTAGE is a global leader in AI- and machine learning-powered digital financial services, specialising in emerging economies. Operating across four continents, AIRVANTAGE processes over 257 million transactions per month, has issued more than 600 million loans, and has advanced over US$4 billion in credit.
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our customers. We are inspired by our belief that everyone deserves the benefits of a modern, connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code ‘MTN’.
For more information contact Antoinette Pillay