Africa’s largest digital payments network MFS Africa has announced a partnership with Western Union.
Per the partnership, users of the MFS Africa platform will be able to receive money from over 200 countries in their mobile wallets. MFS Africa reportedly connects over 400 million mobile money wallets and 200 million bank accounts across 35 African countries.
Western Union, on the other hand, has a presence in over 200 countries and territories, with 150 million customers. It is also one of the preferred and accessible payment methods for sending money from other countries to Africa.
The partnership will launch its service first in Madagascar before expanding to other African regions.
“Our efforts to drive global financial inclusion mean delivering on customer needs today and into the future. Through our partnership with MFS Africa, we are excited to come together and deliver on our joint commitment to bring innovative solutions for customers as they support their families and accelerate their momentum up the economic ladder,” said Hassan Chatila, the global head of account payout network at Western Union.
For MFS Africa, the partnership brings it closer to its vision of having a presence in all 54 African countries, and serving 500 million people and millions of MSMEs. The partnership also comes eight months after it announced the close of a $200 million Series C round.
