MFS Africa, a financial services provider, and the largest mobile money hub in Africa has joined the ranks of African Hidden Champions (AHC).
What’s more, with a vast reach, MFS Africa links customers with service providers through 500 million mobile wallets and over 200 million bank accounts across 800 active payment routes.
Their unique “network of networks” unites 40+ African nations and over 60 countries worldwide.
Through their efforts in tackling expensive payment clearing, limited mobile network compatibility, and intricate regulatory challenges, MFS Africa stands as a prominent figure in Africa’s technological advancement.
“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.
Creating Linkages
In addition, he mentioned that due to their role as a facilitator and a network that interconnects various systems, their objective entailed linking their partners and fintech firms throughout the continent to that influx of digital funds, accomplished through a single API.
This approach, he said, would allow them to effortlessly cater to the needs of the 1.2 billion individuals on the continent.
“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.” Dare stated.
Exploring AHC’s Impact in Africa
Moreover, established in the year 2020, African Hidden Champions represents a collaborative partnership involving Africa Foresight Group, DEG – Deutsche Investitions- und Entwicklungsgesellschaft (The German Development Finance Institution), and the African Development Bank.
Within its network, the initiative has over 25 vibrant African companies, offering them support through narrative dissemination, exposure to unexplored markets, and the provision of technical guidance.
“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 further explained that their initiative presents a chance for members to establish connections and engage with colleagues.
Better positioning for MFS Africa
She mentioned that they also possess internal capabilities to offer essential technical support, aiming to enhance the positioning of any member organisation striving for investor readiness.
She mentioned that in the ongoing year, they had already organized local networking gatherings in North Africa and East Africa.
Furthermore, they were in the process of arranging their yearly summit, scheduled this year at Victoria Falls, which would accommodate all their members and partners.
AHC maintains its dedication to discovering additional African enterprises that are pioneers in their sectors and possess a steadfast dedication to delivering exceptional products and services of superior quality to their clientele.