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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Momo Inc.    MOMO

MOMO INC.

(MOMO)
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Momo : Lonestar Cell MTN Mobile Money Partners With World Remit On International Remittances

09/15/2020 | 06:11am EST

Lonestar Cell MTN, Liberia's leading GSM and Mobile Financial Services Company, has partnered with WorldRemit to make it possible for Mobile Money customers to receive international remittances straight to their Lonestar Cell MTN Mobile Money accounts, free of charge.

This service presents the exciting prospect for Liberians to receive seamless international remittances from their family and friends, anywhere in Europe, Canada and the USA.

With over 7,000 Lonestar Cell MTN agent cashpoint locations across Liberia, the service eliminates the stress, risks and long queues in banking halls associated with receiving remittances sent by loved ones. Adding international remittances to the vast and rapidly expanding MoMoecosystem affirms Lonestar Cell MTN's commitment to make daily financial transactions easier, safer and more convenient.

Christopher Ssali, Acting General Manager of Lonestar Cell MTN Mobile Money, said, "Liberians can now receive international financial remittances from family and friends in Europe, Canada and the USA more easily and safely. We have seen how resilient the people of Liberia truly are and we are very proud to be at the forefront of innovative technologies and partnerships which can help Liberians live convenient lives. Our partnership with WorldRemit does just that. Our MoMo ecosystem has grown so customers can use the money they receive to pay bills, buy goods and pay for the services they need with Mobile Money. We are excited about this because it makes our customers lives easier and we are supporting the government's aim for a cashless digital economy and financial inclusion."

Awa Gueye Ba, Head of Francophone West & Central Africa at WorldRemit, remarked that this partnership with Lonestar Cell MTN provides increased opportunities for customers to connect with their loved ones and receive convenient money transfers. "The MoMo service is one of the most demanded services in Liberia and we are excited about this collaboration with MTN Liberia, as it will allow users to send remittances 24/7 from the WorldRemit website or mobile app and receive directly to their MTN Mobile Money accounts. The partnership will further strengthen the efforts of the Central Bank of Liberia (CBL) in focusing on diverse means of delivering financial services to the rural community sector of the population and integrating them into the formal economy.

Providing our customers with safe, convenient and fast means to receive money is an important step towards WorldRemit's ambition to support customers, in the shift towards the digital economy."

Customers who receive money can conveniently cash-out, pay for goods and services, or transfer the money to their friends and family at the prevailing standard Mobile Money fees using *156#. Customers who are not on MTN Mobile Money can join easily.Sign up is free. All they need to do is visit any Lonestar Cell MTN service center or registered MoMo agent with a valid identification card and fill out an application form.

Copyright The New Dawn. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2020 15 172 M 2 309 M 2 309 M
Net income 2020 2 102 M 320 M 320 M
Net cash 2020 13 881 M 2 113 M 2 113 M
P/E ratio 2020 1,72x
Yield 2020 -
Capitalization 2 837 M 2 837 M 432 M
EV / Sales 2020 -0,73x
EV / Sales 2021 -0,81x
Nbr of Employees 2 350
Free-Float 43,2%
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Technical analysis trends MOMO INC.
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 21
Average target price 152,54 CNY
Last Close Price 13,57 CNY
Spread / Highest target 1 369%
Spread / Average Target 1 024%
Spread / Lowest Target 635%
EPS Revisions
Managers
NameTitle
Li Wang President, Chief Executive Officer, COO & Director
Yan Tang Executive Chairman
Xiao Song Zhang Chief Financial Officer
Chunlai Wang Chief Technology Officer
Yong Li Independent Director
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