12 °c
London
Thursday, June 30, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home M&A

MFS Africa acquires Global Technology Partners for US$34M

TechGist Africa by TechGist Africa
June 14, 2022
in Africa, M&A
Reading Time: 2 mins read
818 8
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

MFS Africa has agreed to pay $34 million in cash to acquire Global Technology Partners (GTP).

GTP is Africa’s leading prepaid card processor, with over 80 banks using its platform, including UBA, Ecobank, BIA, Stanbic, Coris, NSIA, and Zenith Bank.

GTP’s client base spans 34 countries, and the company is completely integrated with the Visa, Mastercard, GIM, GIMAC, and Verve networks for which it processes payments.

Also read: Afreximbank backs Titan Trust Bank with a US$300M Intra-African investment finance facility

“This is a huge milestone for us and Africa’s tech industry — on many levels,” Dare Okoudjou, founder and CEO of MFS Africa, stated. It’s a first for an African IT firm to purchase a US tech firm of GTP’s size and prestige, and we’re thrilled to welcome the GTP team to the MFS Africa family.

Their knowledge helps us to expand our last-mile connectivity value proposition to African banks and to speed our card connectivity offering to mobile money users and other fintech companies operating across the continent. “We are now genuinely an omnichannel payments company,” Okoudjou noted, adding that the merged operations have enormous and exciting growth potential.

“GTP’s established position as Africa’s number one prepaid card processor has been built on its unique, adaptable platform that actively helps prepaid cards prosper,” said Robert Merrick, Founder and Chairman of Global Technology Partners. Because of our personnel, we have become Africa’s prepaid card leader, with actual in-depth knowledge of not only the prepaid card market but also the reality that African card users confront. We match the correct solution with the relevant markets and products. GTP is a great fit for MFS Africa, and we’re working hard to provide new features and functions to our platform, sign up new clients, expand into new countries, drive growth, and contribute significantly to MFS Africa’s business and network of networks.”

Also read: Top 10 African countries with the largest gold reserves

Following the acquisition of GTP, MFS Africa intends to invest further in GTP’s current card programs with banks, bringing all of the MFS Africa HUB’s innovations and possibilities to these programs, including seamless integration with Mobile Money.

GTP’s stack will also be used by the firm to expedite card programs for MNOs and Fintech across Africa. Finally, MFS Africa plans to develop its commercial activity in North America by leveraging GTP’s position in the United States.

MFS Africa will be able to expand its offering to the African gig economy, business travel sector, and the millions of people who want to participate in global digital commerce using card credentials linked to mobile money wallets rather than bank accounts for smooth and secure online purchases.

Related

Source: TechGist Africa
Tags: africaBIACorisDare OkoudjouEcobankfintechFounder and Chairman of Global Technology PartnersGIMGIMACglobal digital commerceGlobal Technology PartnersGTPM&AmastercardMFS AfricaMFS Africa acquires Global Technology Partners for US$34MNSIARobert MerrickStanbicUBAVerveVisaZenith Bankафрикаأفريقياアフリカ非洲
ScanSendShare330Tweet207Share58Pin74Send
TechGist Africa

TechGist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across.

Related Posts

Health

Ethiopia receives 10M doses of Covid Vaccine from China

by FurtherAfrica
June 30, 2022
Energy

ACWA Power Inks 1.1Gw wind project in Egypt

by Energy Capital & Power
June 30, 2022
Energy

Angola SonaGás and OPAIA launch fertilizer industrial complex

by FurtherAfrica
June 30, 2022
Over 1600 African business joined Dubai Chambers since 2021
Business

Over 1600 African business joined Dubai Chambers since 2021

by Fabio Scala
June 30, 2022
Agriculture

Mastercard and Ecobank to connect small-scale farmers to Farm Pass

by The Exchange
June 30, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

Health

Ethiopia receives 10M doses of Covid Vaccine from China

by FurtherAfrica
June 30, 2022
0

Ethiopia has received 10 million doses of Sinopharm COVID-19 vaccines and syringe donations from China this week. The latest donation...

Read more

ACWA Power Inks 1.1Gw wind project in Egypt

June 30, 2022

Angola SonaGás and OPAIA launch fertilizer industrial complex

June 30, 2022
Over 1600 African business joined Dubai Chambers since 2021

Over 1600 African business joined Dubai Chambers since 2021

June 30, 2022

Mastercard and Ecobank to connect small-scale farmers to Farm Pass

June 30, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?