Richard Yego, the Managing Director and Chief Executive Officer of MTN Mobile Money Uganda Ltd (MTN MoMo), has resigned, with his exit expected at the end of February 2026.
Yego, who has led MTN MoMo since February 2022 is set pursue other professional opportunities, according to a statement from MTN.
MTN has appointed Sarah Bateta Okwii as Acting Chief Executive Officer, effective upon Yego’s departure.
Bateta Okwii will steer the fintech business in an interim capacity as the company initiates a substantive leadership transition.
During his tenure, Yego oversaw MTN MoMo’s evolution as Uganda’s leading fintech, focusing on governance, regulatory alignment, distribution scale, and product expansion across payments and financial services.
MTN said Yego has played an important role in building and shaping MTN MoMo Uganda during a key phase in its development, contributing to the growth and strengthening of the business.
Stanbic’s Five-Year Scorecard: How Profit Growth, Deposits, Lending and Dividends Reshaped PerformanceHis exit comes at a time when Uganda’s mobile money market remains intensely competitive, with heightened regulatory scrutiny and accelerating innovation.
Commenting on the transition, Serigne Dioum, CEO of MTN Group Fintech, said: “We thank Richard sincerely for his leadership, dedication, and contribution to MTN MoMo Uganda over the past four years. He has helped establish strong foundations for the business, and we wish him every success in his next chapter.”
Crucially, Yego’s exit comes at a sensitive point, with MTN MoMo expected to formally split from its parent, MTN Uganda Ltd, as part of the group’s long-telegraphed plan to ring-fence and independently structure its fintech operations.
