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MFS Africa, a digital payments company, is to acquire Oklahoma-based Global Technology Partners in what it described as a rare case of an African group doing a tech deal in the US. The acquisition, which will allow MFS to issue prepaid cards to clients, marks a further evolution of Africa’s rapidly growing fintech scene.
“It’s mostly for international ecommerce platforms, which are not able or willing to create the user experience that will accept mobile,” he said. MFS had recently done a deal with Spotify, he added, in which the streaming company would accept mobile payments from customers in Kenya, Uganda and South Africa.
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