Remittance deals continue to hog the fintech headlines in Africa. MTN MoMo, Mastercard and Equity Bank Kenya are the latest companies to make announcements about plans to serve the vast African remittance market.
MTN Nigeria says it has taken full ownership of Mobile Money Payment Service Bank (MoMo PSB) after buying the 7.17% share owned by Acxani Capital for around NGN6.95 billion (US$4.36 million).
Safaricom and Mastercard announced on Thursday that they have signed a partnership to accelerate adoption of payment acceptance and cross-border remittance services in Kenya.
TenPay Global, the cross-border payment platform of Chinese multinational technology conglomerate Tencent, and Mastercard Move, payment giant Mastercard’s money movement business, have announced a collaboration.