It is not often that a African company acquires a US one. African Fintech, MFS Africa, has recently reached an agreement to purchase US based Global Technology Partners (GTP).
The acquisition will allow MFS Africa to expand its reach across Africa as Global Technology Partners, a processor for prepaid cards in Africa, already has over 80 African banks utilizing its platform.
“This is a momentous milestone for us and Africa’s tech ecosystem – on many levels. It’s something of a first for an African tech company to acquire a US tech company of GTP’s size and stature, and we’re delighted to be welcoming the GTP team to the MFS Africa family.”Dare Okoudjou, founder and CEO of MFS Africa
Not only does the purchase of GTP give MFS Africa greater reach across Africa but it will also open the door to the Fintech’s desire to expand into the US market.
Read ITWeb’s article, ‘Fintech firm MFS Africa acquires US-based GTP’ to get more details of the MFS Africa and GTP agreement.