MFS Africa is a leading Pan-African Fintech company, operating the largest digital payments hub on the continent. It is Connected to over 200 million mobile wallets in Sub-Saharan Africa.
MFS Africa announced that it has acquired Beyonic, a digital payments management provider of business services for SMEs, Fintech and social impact entities across Africa.It is also a Fintech startup with operations in Ghana, Kenya, Rwanda, Tanzania, and Uganda.
This deal, which is subject to regulatory approval by the Fair Competition Commission in Tanzania, will provide the growing micro, small, and medium enterprise segment across Africa with the ability to manage digital transactions with individuals and businesses around the world.
Luke Kyohere, founder, Executive Chairman, and CTO of Beyonic, said, “MFS Africa’s mission to make borders matter less in digital payments aligns perfectly with Beyonic’s vision of helping enterprises deliver fast, affordable fintech solutions to the last mile, where they are needed the most. Together, we will give our customers access to the broadest and deepest digital payment network in Africa.
He continued, “I’m excited about the possibilities this partnership brings, especially when you factor in MFS Africa’s recent partnership with Visa, enabling them to issue Visa payment credentials across their pan-African network. It’s a new dawn for SMEs in Africa.”
Dare Okoudjou, founder and CEO of MFS Africa said MFS Africa Hub have been creating new digital pathways mobile money users in Africa and the global economy.He said with the acquisition of Beyonic, they can now put this digital payment network at the service of those entrepreneurs whether they are SMEs, Fintech, or social impact organisations.
Source: Press release