We frequently hear of foreign companies acquiring African companies however, we rarely hear of African companies acquiring foreign companies.
Africa’s largest fintech interoperability hub, MFS Africa, will reportedly acquire US-based payments software company Global Technology Partners in a $34 million deal.
MFS Africa’s acquisition of GTP will allow MFS Africa to offer its users prepaid cards, and the fintech will expand into the US.
MFS Africa CEO Dare Okoudjou, says it’s mostly for international e-commerce platforms, which are not able or willing to create the user experience that will accept mobile.