Pan-African Fintech company, MFS Africa acquires airtime top-up provider, Sochitel

Mergers, Acquisitions and Financial Results

Leading pan-African fintech company, MFS Africa has announced the acquisition of Sochitel, an international airtime top-up provider, in a move that creates the largest value transfer payment network focusing on Africa.

The MFS Africa Hub enables cross-border, cross-currency, cross-network payments within and into Africa, reaching an estimated 100 million mobile wallets across all major mobile money networks. With the acquisition, the company will now offer airtime top-up including remittances, e-commerce and bill payment.

Through the deal, MFS Africa will expand its service offering and footprint considerably, offering more value and flexibility to its hub participants and their end users.

Established in 2007, Sochitel is a global remittance and value transfer company focused on opportunities around the overseas top up and remittance industry.

With airtime top-up delivery to over 320 mobile network operators in 100 countries, Sochitel specialises in reselling mobile airtime top-ups into and across the African continent.
Source: Press Release