Africa50, headquartered in Morocco, and Oikocredit, based in the Netherlands, have led an equity investment in Ghanaian financial technology company Zeepay Ghana Ltd to bolster its expansion across Africa and the Caribbean. The investment, which also involved Injaro Ghana Venture Capital Fund, Verdant Capital Hybrid Fund, and Investisseurs & Partenaires (I&P), aims to enhance Zeepay's cross-border remittances and mobile financial services operations. Zeepay, founded in 2014, specializes in facilitating instant settlement of remittances into mobile money wallets, handling over 10 million transactions worth $3 billion last year. The company's focus on promoting financial inclusion and transforming cross-border payments aligns with the investment's goal of supporting its geographical expansion and service enhancement.
Zeepay's vision to extend its mobile money reach into at least ten more countries within the next two years is backed by this equity investment. The investment signifies confidence in Zeepay's success and its potential to become a leading pan-African mobile financial services provider, with a significant positive impact on underserved users across the region.