120m m-wallets connected in Africa

Alan Burkitt-Gray
Published on:

MFS Africa says it now connects 120m mobile wallets in sub-Saharan Africa

South African company MFS Africa says its mobile financial services hub is now connected to 120 million mobile wallets in sub-Saharan Africa.

The company, set up by former MTN executive Dare Okoudjou, says it has partnerships with a number of mobile operators including Airtel, Econet, MTN, Orange, Millicom’s Tigo and Vodafone.

“It is proven that interoperability can bring many benefits, helping the wider ecosystem to reduce costs, deliver greater customer value through enhanced functionality and convenience, and increase choice for end customers,” said Okoudjou.

He set up MFS Africa, based in Johannesburg, in 2009. “We are the ideal partner for service providers looking to improve service access, accelerate customer acquisition, and expand rapidly into new markets, without the headaches around foreign exchange and regulatory compliance,” he said. “This is an important milestone in our mission to connect African people to each other and the global economy.”

The company said its MFS hub “allows service providers to facilitate transactions across networks, across borders and across currencies via a single API ensuring compliance with all necessary regulations”.