Mastercard, headquartered in the U.S., has strengthened its commitment to financial inclusion in Africa through a minority stake acquisition valued at up to $200 million in MTN Group Fintech, the financial technology arm of telecommunications giant MTN Group based in South Africa. This investment, part of a broader collaboration, aims to elevate MTN Group Fintech's valuation to $5.2 billion and enhance its payments and remittance services, ultimately advancing financial inclusion across the continent.
The deal, subject to customary closing conditions, signifies Mastercard's confidence in the potential of MTN Group Fintech and its strategic alignment to drive innovation in Africa's evolving digital financial landscape.