MTN MoMo joins South Africa’s rent-to-own smartphone market

MTN MoMo South Africa has launched a rent-to-own smartphone service that allows customers to own a 4G or 5G smartphone, from as little as R10 a day, with no credit checks or paperwork required.

The move places the telecom alongside the growing group of fintech-telecom hybrids, such as Vodacom Easy2Own, Pepkor FoneYam, M-Kopa, Rentoza, and Teljoy, also offering rent-to-own models. FoneYam…