MTN MoMo Uganda MD Richard Yego to step down after four years

MTN Mobile Money (U) Limited has announced that Managing Director Richard Yego will step down at the end of February 2026, marking the end of a four-year tenure that helped strengthen Uganda’s digital payments ecosystem. The company says interim leadership is in place as MTN MoMo continues to scale its fintech services across Africa.

By Nhlanhla Muthe, Senior Reporter

MTN Mobile Money (U) Limited has announced that Managing Director Richard Yego will step down at the end of February 2026 after four years at the helm, as the company maintains momentum in Uganda and across MTN MoMo’s expanding African fintech footprint.

MTN Mobile Money (U) Limited has announced that Managing Director Richard Yego will step down at the end of February 2026. His departure brings to a close a four-year tenure that helped deepen Uganda’s digital payments ecosystem and strengthen MTN MoMo’s standing in Africa’s fintech market.

In a statement issued early today, the fintech confirmed that Yego will officially vacate the role on February 28, 2026. “After four years of leading MTN Mobile Money (U) Limited, Mr. Richard Yego will step down as the Managing Director,” the Board said, noting that interim leadership arrangements have already been put in place.

Yego joined MTN MoMo Uganda at a time when mobile money platforms across Africa were accelerating beyond basic person-to-person transfers into full financial services ecosystems. During his tenure, MoMo Uganda deepened merchant payments, expanded bill payments and strengthened partnerships with banks, fintechs and government agencies to drive digital financial inclusion.

“The Board of Directors extends its appreciation to Mr. Yego for the service rendered during his tenure, and for the contribution made to the Company’s growth and strategic direction,” the statement read.

From March 1, 2026, the company’s Chief Finance Officer, Sarah Bateta Okwi, will assume the role of Acting Managing Director, ensuring operational continuity while a substantive appointment is finalised. “MTN Mobile Money (U) Limited remains fully operational and committed to upholding strong corporate governance and delivering value to its customers and stakeholders,” the Board added.

Across Africa, the announcement has drawn attention from an industry that closely watches leadership transitions within MTN’s fintech arm. MTN MoMo operates in more than a dozen African markets, offering services ranging from peer-to-peer transfers and merchant payments to savings, lending, insurance, international remittances and mobile-based investments.

In markets such as Ghana, Côte d’Ivoire, Rwanda and Zambia, MoMo has evolved into a daily financial utility for millions, powering everything from small business payments to cross-border trade. Uganda remains one of its strategic hubs in East Africa, with mobile money central to commerce, public services and household finances.

As Yego prepares for his next chapter, the Board said it “expresses its sincere appreciation to Mr. Richard Yego for his contribution and leadership and wishes him well in his future endeavours,” signalling continuity rather than disruption for one of Africa’s most influential mobile money platforms.