Even rarer are those that buy a company on the other side of the Atlantic, yet this is what Dare Okoudjou has just managed to accomplish with his company, MFS Africa. After Uganda’s Beyonic in 2015 and Nigeria’s Baxi in 2021, which opened the doors to the largest market in Africa, MFS concluded its fourth acquisition with GTP. A year later, he became head of international mobile money development, a position he held for almost two years before leaving MTN to found MFS Africa. The latest fundraising dates back to November 2021, when MFS Africa raised $100m (including $30m in debt) from AfricInvest, Endeavor and Goodwell Investments. MFS Africa now employs over 500 staff across seven offices worldwide.

Source: The North Africa Journal June 20, 2022 13:51 UTC