DON'T MISS : Talking Africa Podcast – Ethiopia: Looming famine in Tigray is the making of 'starvation crimes' says report by WPF

MFS Africa considers acquisitions to strengthen mobile-money network

By David Whitehouse
Posted on Friday, 2 April 2021 04:46

REUTERS/Thomas Mukoya

Mobile-money gateway MFS Africa is actively considering acquisitions and investments to strengthen its network in East and West Africa, CEO Dare Okoudjou tells The Africa Report.

The company hopes to announce an investment in East Africa in April, Okoudjou says from Johannesburg. He aims to strengthen MFS Africa’s presence in Cameroon, Gabon and Chad in Central Africa and Rwanda, Uganda and Kenya to the east.

MFS Africa has connected 320m mobile wallets across the continent, which Okoudjou estimates is about 60% of the market. As the number of African mobile wallets continues to expand, Okoudjou aims to connect 500m users by 2025. “Cross-border payments should be as easy as international phone calls.”