back Back

Zeepay Ghana acquires 51% stake in Mangwee Mobile Money in Zambia

By Pavithra R

April 19, 2021

  • Ghana
  • Zeepay
Share

Zeepay Ghana acquires 51% stake in Mangwee Mobile Money in ZambiaZEEPAY, a wholly Ghanaian owned mobile financial services company focused on providing integrated mobile payments services with mobile wallets has announced its acquisition of 51% stake in Mangwee Mobile Money in Zambia.

Mangwee has been operational since 2018 and was originally created to function as an alternative wallet targeting university students in Zambia and to be able to reduce the cost of mobile wallet services. The deal makes Zeepay Ghana the majority shareholder of the entity.

“The decision to invest in Mangwee is part of our overall strategy to expand our presence in Africa, in order to better serve our international clients and reduce the cost of remittances to Africa,” said Paa Kwasi Yankey, President of Zeepay.

ZEEPAY is a FinTech company targeting the unbanked and banked population with the objective of bringing the unbanked into the financial stream and easing payments and collections for the banked population. The firm focuses on digital rails to connect digital assets. It has footprint in more than 20 African markets. The company specializes in paying remittances to mobile wallets across Africa and is regulated both by the Bank of Ghana as an issuer of the EMI and by the Financial Conduct Authority in the Kingdom. – United as a remittance operator.

This merger is the first of its kind when two indigenous African fintechs in mobile money operations unite to grow, which currently means a wind of change on the African continent.

“The acquisition of Mangwee by Zeepay marks the opening of Southern Africa to the world of convenient and affordable IMT services,” said Aston Njovu, co-founder of Mangwee.

Previous Article

April 19, 2021

Ozon agrees to acquire Oney Bank from Sovcombank

Read More
Next Article

April 19, 2021

Lombard Odier selects smartTrade’s LiquidityFX to boost FX trading services

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Ghana

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Confida and illimity create new capillary proximity network, Pehi

Read More

May 17, 2024

dLocal expands partnership with Deel to 12 new countries

Read More

May 17, 2024

Dwolla & Visa to enhance Pay by Bank experience for businesses

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023