MTN Group’s MoMo appoints new executive for BankTech

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MTN is confident that Mudassar’s hands-on approach will take the fintech business to new heights.

M. Mudassar Aqil has been appointed as the executive for BankTech in MoMo, MTN Group's fintech business, effective 1 August 2023. BankTech is one of the five verticals within MTN fintech, serving more than 69 million monthly active users across 16 markets.

With extensive experience in the financial services industry, including a 12-year tenure as a CEO in banking and fintech, Mudassar brings a deep understanding of banking regulation, lending, payments, and platform strategy.

Throughout his 25-year career, Mudassar has held various senior executive positions in the financial services and fintech sectors in the US and Pakistan. Notable accomplishments include successfully turning around two banks and a significant wallet platform as CEO, transforming them into profitable market leaders.

Most recently, Mudassar served as the CEO at Telenor Microfinance Bank and Easypaisa, a joint venture between Telenor Group and Ant Group. Under his leadership, the bank returned to profitability, the wallet business grew threefold to 12.5 million monthly active users, establishing Easypaisa as Pakistan’s largest app. He also revitalised the credit business through digital transformation.

Mudassar holds an MBA from Salisbury University, MD, USA, and has completed the advanced management programme at Harvard Business School.

“We are thrilled to have Mudassar join the group fintech team. With his extensive experience in the financial services sector and diverse background, we are confident that we will continue to make significant strides in promoting financial inclusion across the continent,” said Serigne Dioum, group chief fintech officer.

“Mudassar has forged an exceptional career by establishing organisational vision, developing strategic and tactical plans, and executing them with highly effective teams. He is a strategic and pragmatic leader known for his hands-on approach to business.”

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