MasterCard, Onafriq partner to bring new payments suite to Africa

This partnership is consistent with Alviere and Onafriq's goals of providing critical access to financial services, according to the companies.

According to the company, Onafriq evokes the concept of One Africa.

The company received the top accolade at the African Banker Awards, after being recognised for outstanding contributions to Africa’s fintech industry.

Through this partnership, MFS Africa will be expanding Access Bank’s instant outbound remittance reach to potentially 400 million mobile wallets.

The new capital raised will be deployed to secure operational licensing in the United Kingdom and Canada, while building out operations in the United Kingdom.

Companies announce partnership as mobile money continues on growth trajectory across Africa.

Dare Okoudjou, Founder and CEO, MFS Africa, outlines why card and mobile money interoperability are critical to empowering African consumers and entrepreneurs.

Admaius Capital Partners led the US$100-million extension, resulting in the total amount raised in the series to US$200-million.

Deal for an undisclosed amount will open doors to additional e-commerce business, business travel market and opportunities in US market.

Company said it will extend the reach of the pan-African payment and settlement system to over 320 million mobile money and last mile users across 35 African markets.

AfricInvest FIVE invests in the digital payments network.