MFS Africa Aims to Spearhead Digital Cash Connectivity Across the Continent
MFS Africa, a pioneering force in cross-border payment innovation and the largest digital payments gateway, has set its sights on an ambitious goal: to link partners and fintech enterprises throughout Africa to the realm of digital cash.
With a colossal presence in the cross-border payment landscape, MFS Africa boasts a network encompassing over 500 million mobile wallets and over 200 million bank accounts across an impressive 800 operational payment corridors.
Dare Okoudjou, the Founder and Chief Executive Officer (CEO) of MFS Africa, affirmed this mission in a statement. Characterizing the company as an “enabler” and a “network of networks,” Okoudjou underscored their commitment to bridging gaps and connecting partners and fintech firms across the continent to the realm of digital currency.
Okoudjou highlighted MFS Africa’s intimate grasp of the intricacies of the continent and its dedication to reducing the significance of borders as pivotal elements that shape the innovative payment solutions they extend to their partners.
One of the company’s significant initiatives, Money in Africa, is presently undergoing a digital transformation. The company is leveraging its network of agents in mobile money markets and point-of-sale systems to usher in this evolution. Furthermore, they are advancing this endeavor by facilitating interoperability between agent and card networks, propelling convenience and ease in the realm of digital transactions.
In a strategic move, MFS Africa has become a part of the African Hidden Champions (AHC), an initiative founded in 2020 by the Africa Foresight Group (AFG) and the German Investment Corporation (DEG). Speaking on this development, Okoudjou expressed MFS Africa’s gratification in joining an esteemed community of companies within the AHC network. He emphasized the anticipated enhancement of partnerships through this collaboration.
Yasmin Kumi, the founder of AHC and CEO of Africa Foresight Group, conveyed excitement about welcoming MFS Africa into their fold. Kumi praised the company’s wealth of knowledge from the African tech sector, envisioning the valuable insights MFS Africa would bring to fellow AHC members.
Kumi elaborated on AHC’s comprehensive support structure, emphasizing their in-house resources that offer technical assistance to foster investor readiness among member organizations.
MFS Africa’s extensive network extends its reach across more than 40 countries within Africa and over 60 countries globally. Overcoming challenges like the high cost of payment clearing, limited mobile network interoperability, and complex regulatory environments, MFS Africa stands as a prominent leader in Africa’s technological evolution.
