MFS AFRICA JOINS AFRICAN HIDDEN CHAMPIONS

PRESS RELEASE

14/08/2023

MFS AFRICA JOINS AFRICAN HIDDEN CHAMPIONS

MFS Africa, Africa’s largest digital payments gateway, is the newest member of African Hidden Champions (AHC). Connecting customers to service providers, MFS Africa has over 500 millionmobile wallets and more than 200 million bank accounts across 800 live paymentcorridors. Their “network of networks” connects 40+ countries in Africa and more than60 countries globally.By overcoming the high cost of clearing payments, low mobile network interoperability and complex regulatory climates, MFS Africa is firmly positioned at the forefront of Africa’s tech revolution.

“As a company, our unique understanding of the continent and our commitment to making borders matter less is a huge factor in the payment solutions we provide to our partners. Money in Africa right now is offline, and we are digitalising that through agents in mobile money markets and POS agents such as the Baxi agents in Nigeria. We are also taking this further by enabling interoperability between agent and card networks.”said Dare Okoudjou, Founder & CEO of MFS Africa.

He added,“Because of our position as an enabler and a network of networks, our goal is to connect our partners and fintech companies across the continent to that digital cash coming in through one API so they can easily service the 1.2 billion people on the continent. We are in this for the long haul. Our next focus as a company is to strengthen our foundation and expand into all African countries as we build the payments infrastructure for the next 100 years. We are pleased to join this incredible network of companies and look forward to working with the partners as we continue to scale.”

Founded in 2020, African Hidden Champions is a co-partnership of Africa Foresight Group, DEG – Deutsche Investitions- und Entwicklungsgesellschaft (The German Development Finance Institution) and the African Development Bank. The initiative has more than 25 dynamic African firms in its network, supporting them by telling their stories, exposing them to new markets, and providing technical assistance.

“We are very pleased to welcome MFS Africa to our AHC network. They bring an extraordinary wealth of knowledge from the African tech space, which our other AHC members will be able to tap into. We look forward to learning from their experience and showcasing their great achievements, said Yasmin Kumi, AHC Co – Founder and CEO Africa Foresight Group.

Ms. Kumi added, “Our initiative offers our members an opportunity to connect and network with their peers. We also have in-house resources to provide necessary technical assistance to better position any member organisation that seeks investor readiness. So far in 2023, we have hosted regional networking events in North Africa and East Africa, and are currently preparing for our annual summit, this year taking place in Victoria Falls, which will host all our members and partners.”

AHC remains committed to find more African companies that are trailblazers in their industries and have an unwavering commitment to excellence in providing high quality products and services to their customers.

ENDS.

For more information on the AHC initiative, please contact Shose Oyalo shose@ginadin.group

About AFG

Africa Foresight Group (AFG) is a women-led company founded in 2016, that is on a mission to build African people and companies into global champions. The business delivers top professional services to African companies across the continent through a flexible talent platform called Peralta. Founded in 2016, the company has grown to support businesses in more than 20 African markets and works for more than 100 clients from Africa and across the world. The company was started in Ghana, and has locations in Accra, Johannesburg, and Lagos.
For more information: www.africaforesight.com
About DEG
For more than 60 years, DEG has been a reliable partner to private-sector enterprises operating in developing and emerging-market countries. With a portfolio of around EUR 10 billion in approximately 80 countries, the DEG is one of the world’s largest private-sector development financiers. The DEG provides clients with tailor-made solutions, including financing, promotional programs, and advice required to develop successfully and sustainably while generating local added value and creating qualified jobs.
For more information: www.deginvest.de
About the African Development Bank Group
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.
For more information: www.afdb.org

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