MFS Africa is a financial technology company offering mobile financial solutions across Africa by enabling digital inter-operability. MFS Africa’s services allow its partners’ customers and SMEs to send and receive money across borders, payments instruments and agents (mobile wallet, card, bank account, and over the counter).
GBP 10m
Access to payments services is a core building block for financial inclusion and the digital economy, and we seek to back solutions created by forward-looking African founders. High costs of remittance services and limited send channels make cross-border payments inaccessible for most low-income and SME market segments in Africa – our investment successfully backed Dare Okoudjou’s MFS Africa vision to overcome these crucial bottlenecks.
MFS Africa has enabled cross-border payments that leverage mobile channels to scale, supported by interoperability among service providers and payments instruments. During our investment period we witnessed the acceleration in adoption of digital payments and lowering of costs to users.
We believe MFS Africa has positioned itself as a leading African digital payments company – unlocking new sources of capital flowing through financial markets in the form of remittances and digital payments.
The only currency that matters is access.” www.mfsafrica.com
320 M mobile money wallets connected by MFS Africa’s full-service digital network to enable cross-border payments for remittance companies, financial service providers, and global merchants
$1.8 billion MFS Africa’s cumulative transactional value (in USD)processed over FSDAi’s investment period
35+ African countries covered by MFS Africa’s platform
3 Partnership and Acquisitions MFS Africa acquired Baxi (Nigeria), Beyonic (Uganda) and closed a partnership with VISA
$23 million new capital (USD) invested into MFS Africa over the investment period.
Debt Investors: Lendable, Afrasia
Equity Investors: Allan Gray, Goodwell
MFS Africa Limited
Johannesburg,
South Africa
http://www.mfsafrica.com
http://www.mfsafrica.com/contact
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