steven maseka 
Mastercard has finalized the acquisition of a minority stake in the fintech segment of MTN Group, the continent’s leading mobile operator. This deal, valued at $200 million (R3.8 billion), not only elevates MTN Group Fintech’s worth to an impressive $5.2 billion (R99 billion) but also signifies a pivotal moment for financial services across Africa. Announced initially in August 2023 and subject to standard closing conditions, this collaboration between MTN and Mastercard is set to amplify the reach and efficacy of digital financial services, including mobile money, insurance, and e-commerce.
With MTN’s fintech business experiencing a robust 21.7% revenue growth in the first half of the year, this partnership promises to fuel further the expansion and accessibility of financial solutions across the continent, paving the way for greater financial inclusion and economic empowerment in Africa.
Mastecard has been This collaboration is set to revolutionize the digital payments arena, empowering previously marginalized small, mid-sized, and micro businesses to seamlessly and securely handle both domestic and international payments from physical and e-commerce transactions.
This comes in a wake of partnership with various commecial banks and Retailers early last year,Mastercard partnered with Equity Bank an ambitious Customer Business Agreement with Mastercard, aimed at giving customers a broad range of benefits from a wide selection of Mastercard payment solutions ranging from World and World Elite cards, corporate cards and virtual cards.
In addition, customers will be able to perform a range of payments including cross border remittance, e-commerce payments, QR and Tap on phone solutions.Other commercial banks which are on Mastercards ladder on innovations and financial inclusion incude KCB Bank.In the partnership they rolled out the World Elite Exclusive Credit Card that will offer premium and private banking customers a range of market-exclusive benefits, privileges, and experiences.This collaboration marks a significant milestone for the Bank as it is another strong step in building a world-class offering for its high net-worth customers
This collaboration is set to revolutionize the digital payments arena, empowering previously marginalized small, mid-sized, and micro businesses to seamlessly and securely handle both domestic and international payments from physical and e-commerce transactions.
Mastecard also partnerd with the new entrant in Kenya in Retail sector where they partnered with Mastercard to offer customers a 20% shopping discount on purchases made at Carrefour stores via locally-issued Mastercard cards.The collaboration aims to enhance the shopping experience for debit, credit, and prepaid Mastercard cardholders, both online and in stores, across Kenya.
