Kenyan firm Direct Pay eyes West Africa with Ghana office

26 April 2018

Money Transfer

Kenya-based Direct Pay Online (DPO) Group has opened an office in Ghana as it seeks to expand its portfolio to the West Africa market.

The office will act as the DPO headquarters for the region.

Group chief executive Eran Feinstein said the move will strengthen DPO’s regional presence as well as enhance its overall portfolio.

“Ghanaian consumers and businesses are increasingly embracing the convenience that online payment brings. With the launch of our new office in Ghana, we will be able to better serve these merchants and their consumers, and expand into West Africa,” said Mr Feinstein.

DPO Group serves over 25,000 merchants including more than 54 airlines, hotels, restaurants, travel agents, tour operators and other investors in the e-commerce sector.

Since its establishment in 2006, it has opened in markets including Uganda, Rwanda, Zanzibar, Tanzania, Ethiopia, Zambia, South Africa, Zimbabwe, Namibia, Mauritius and Botswana.

Last year, it received Sh519 million ($5 million) funding from a private equity firm Apis Partners.

This was the second time that it was investing in DPO after injecting Sh1 billion ($10 million) in 2016.

The firm said it plans to use the funds for expansion and acquisitions in Africa.

The acquisitions were meant to enhance its suite of payment solutions across the continent, which currently include processing for all major cards, mobile money and e-wallets.

In 2017, the group also acquired VCS Namibia and Botswana in March, PayThru South Africa in June, and VCS South Africa in August.

Source: Business Daily