The MTN Group has appointed Riaan Wessels as Chief Risk Officer: Fintech with effect from 1 July 2022, the operator’s second high-profile executive appointment in a month and one of at least seven recent appointments focused on its Fintech business.

In early June, the company appointed Andrew Goodrich as Executive for Banktech, part of the Group’s Fintech team, effective 1 June 2022. Goodrich joined MTN in 2019 as a General Manager for Banktech & Beyond Payments division, and, according to MTN, has added value to its digital banking strategy.

According to a statement released by the operator, Wessels has 13 years’ experience at MTN. He first joined the company in 2004, as General Manager: Business Risk Management and returned in 2017 as Group Executive: Risk and Compliance.

Serigne Dioum, Group Chief Fintech Officer, said, “As Chief Risk Officer: Fintech, Riaan will continue to add immense value at MTN by effectively managing risk exposures to the business and ensuring robust processes and controls.”

MTN added that over the past 20 years, Wessels has implemented complex programmes at multinational companies in the technology and telecommunications industries. This includes leading large risk management, compliance and internal audit teams across operating environments in the Middle East and Africa.

He holds a BComm Honours degree from the University of Free State in Accounting, Auditing and Tax and a Postgraduate diploma in Business Leadership from GIBS.

He is also a Board member of MTN Rwanda and MTN Côte d'Ivoire as well as Member and Chairman of the Board of MTN Guinea Conakry.

MTN has continued to emphasise its intention to strengthen its Fintech-centric service and technology offering.

In May this year the company’s Mobile Money (MoMo) payment service bank (PSB) officially began operations in Nigeria.

The company described the development as “a key milestone in delivering the company’s Ambition 2025 strategic priorities.”

According to an ITWeb report, MTN Nigeria Fintech revenue also rose by 46.7% on the back of the growing adoption of Fintech services and an expanded user base.