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    MOMO   US60879B1070

MOMO INC.

(MOMO)
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Momo : Mobile Money Partners With Sendwave for International Remittances From the U.S.

09/21/2020 | 11:06am EDT

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Lonestar Cell MTN, one of Liberia's leading GSM and Mobile Financial Services companies, has partnered with Sendwave to make it possible for Mobile Money customers to now receive international remittances from the USA straight to their Lonestar Cell MTN Mobile Money accounts.

This service presents an exclusive prospect for Liberians to receive seamless international remittances from their family and friends.

This service eliminates the stress, risks and long queues in banking halls associated with receiving remittances sent by loved ones. Using MoMo for international remittances and daily financial transactions makes life easier, safer and more convenient.

Christopher Ssali, Acting General Manager of Lonestar Cell MTN Mobile Money, said, "We are excited and very proud to be at the forefront of innovative financial technologies and partnerships which can help Liberians live convenient and safer lives. Our international remittances partnership with Sendwave does just that.

What is even better is that with our rapidly expanding MoMo ecosystem, MoMo customers can use the money they receive to pay bills, buy goods and pay for services they need by dialing *156#. If customers need to access cash, we have over 8,000 Lonestar Cell MTN cashpoints locations across Liberia to make this as easy as possible for them.

We are truly excited about this because it makes our customers lives easier and better and we are supporting the government's aim for a cashless digital economy and financial inclusion."

Alex Banks, Director of Growth for Sendwave, remarked "We are thrilled to partner with Lonestar Cell MTN to launch instant, low-cost money transfers from the USA to Liberian MoMo wallets. This service will empower people in the USA to send instant, low-cost transfers to their family and friends in Liberia right from the Sendwave app on their mobile phones. Recipients will also be able to quickly access these funds from the MoMo wallet on their phones. This partnership is both a huge step forward in supporting the government's financial inclusion initiatives and in reducing the time and fees required to send remittances into Liberia, as well as a timely alternative to going in-person to send and receive funds. Join us in celebrating by entering the promo code "Liberia" in the Sendwave app for $10 free on your first transfer!"

For people outside of Liberia, using the service is easy. Download the Sendwave app from the App Store or Google Play Store, select Liberia as the destination and follow the in-app process (completing sender and recipient details along with payment information) to send money to loved ones in Liberia instantly.

MoMo customers in Liberia can receive money into their wallets, cash-out at the over 8,000 Lonestar Cell MTN cashpoints locations across Liberia, pay for goods and services at various merchant locations, or transfer the money to their friends and family at the prevailing standard Mobile Money fees.

About Lonestar Cell MTN/MTN Liberia

Lonestar Cell MTN/MTN Liberia, Liberia's leading telecommunications provider, was founded in 2001. We are a technology-based company with a focus on winning in everything we do while demonstrating consistency in innovation to meet our unique customer needs. We are a subsidiary of MTN, a leading international telecommunications groups operating in 21 countries across Africa and the Middle East.

For more information, please visit www.lonestarcell.com

About Sendwave

Sendwave is an international remittance company with a mission to make sending money as quick and easy as sending a text. We empower our users in US, UK, EU and Canada to send instant, low-cost money transfers to their loved ones right from their phones using the Sendwave iPhone or Android app. Sendwave operates a fully digital service for sending to mobile wallets and bank accounts in Africa and Asia. For more information, visit https://sendwave.com

Copyright Liberian Observer. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2021 14 868 M 2 321 M 2 321 M
Net income 2021 1 611 M 252 M 252 M
Net cash 2021 10 872 M 1 697 M 1 697 M
P/E ratio 2021 14,6x
Yield 2021 -
Capitalization 20 774 M 3 247 M 3 243 M
EV / Sales 2021 0,67x
EV / Sales 2022 0,56x
Nbr of Employees 2 394
Free-Float 78,3%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 119,92 CNY
Last Close Price 100,78 CNY
Spread / Highest target 90,5%
Spread / Average Target 19,0%
Spread / Lowest Target -14,7%
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Managers and Directors
NameTitle
Li Wang President, Chief Executive Officer, COO & Director
Xiao Song Zhang Chief Financial Officer
Yan Tang Executive Chairman
Yong Li Independent Director
Bing Chung Tam Independent Director
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