MTN Group is pleased to announce the appointment of M. Mudassar Aqil as the Executive: BankTech in its Fintech business, MoMo, effective from August 1, 2023. BankTech is one of MTN Fintech’s five verticals and currently serves over 69 million monthly active users across 16 markets.
With an extensive background in the financial services industry, including a 12-year tenure as a CEO in the banking and fintech space, Mudassar brings a deep understanding of banking regulation, lending, payments, and platform strategy to his new role.
Throughout his 25-year career, Mudassar has held several senior executive positions in the financial services and fintech sectors in the United States and Pakistan. Notably, he has successfully turned around two banks and a significant wallet platform as CEO, transforming them into profitable market-leading entities.
Most recently, 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 back to profitability, expanded the wallet business threefold to 12.5 million monthly active users, making Easypaisa Pakistan’s largest app, and revitalized the credit business through digital transformation.
Mudassar holds an MBA from Salisbury University, MD, USA, and is an alumnus of the Advanced Management Program at Harvard Business School.
Serigne Dioum, Group Chief Fintech Officer, expressed delight in welcoming Mudassar to the Group Fintech team. Dioum emphasized Mudassar’s extensive experience in the financial services sector and diverse background, highlighting his contribution to breaking new ground in promoting financial inclusion across the continent.
Dioum concluded by acknowledging Mudassar as a strategic yet pragmatic leader renowned for his hands-on approach to business. His innate ability to establish an organizational vision, develop strategic and tactical plans, and execute them with well-led and highly effective teams has built him a stellar career.
The appointment of Mudassar Aqil reflects MTN Group’s commitment to driving innovation and advancing financial inclusion in the Fintech industry. With his expertise and leadership, MTN Fintech aims to further expand its reach and impact, bringing financial services to underserved populations across the markets it serves.
