MFS Africa announced its acquisition of Baxi, a super-agent network in Nigeria

Date:

OnΒ Wednesday, October 20, 2021, Pan-African digital payments hub, MFS Africa announced its acquisition of Baxi, a super-agent network in Nigeria, for an undisclosed amount.

FoundedΒ in 2009, MFS Africa connects mobile money systems to banks and other financial institutions. Baxi, on the other hand, is a platform launched by payments-oriented company, Capricorn Digital Limited.

Baxi offers digital payments services including, bill payments, airtime purchases, withdrawals, and money transfers. It provides them through a network of agents across Nigeria.

What does the acquisition mean?Β The deal, which is subject to approval from the Central Bank of Nigeria (CBN), could ease online and offline cross-border payments for Nigerian SMEs despite low mobile money activity in the country.

 

Culled from https://techpoint.africa/

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Femi Adebayo is thrilled to be a part of the Emmy Awards academy

Renowned actor and filmmaker, Femi Adebayo, has achieved a...

Alleged thieves target Portable’s music studio in a raid

Nigerian artist Habeeb Okikiola, widely recognized as Portable, encountered...

Davido reveals a generous donation of N300 million to orphanages

David Adeleke, the renowned Nigerian afrobeat artist, widely recognized...