Mastercard has completed the acquisition of a minority stake valued at up to $200 million (approximately R3.8 billion) in MTN Group Fintech, the financial technology arm of the telecommunications operator MTN Group.
With this investment, MTN Group Fintech is now valued at $5.2 billion (almost R100 billion) on a cash- and debt-free basis. The agreement, which was initially announced in October, is still pending finalization based on customary closing conditions.
MTN emphasized that these agreements align with the broader commercial relationship between the two companies, aiming to support the ongoing development and expansion of technology and infrastructure to promote financial inclusion across the African continent. The collaboration is considered instrumental in accelerating the growth of MTN’s fintech business, particularly in payments and remittance services.
In a statement, MTN stressed its commitment to exploring additional opportunities for value-enhancing partnerships and investments with strategic partners and long-term investors, contingent upon market conditions.
