Zeepay, the leading African Challenger Fintech with operations in over 10 African countries today acquired a 51 percent stake in Mangwee Mobile Money in Zambia. Zeepay is the leading African challenger fintech with operations across 20 African countries and 30 day active in 10 of them.
The Managing Director of Zeepay, Andrew Takyi-Appiah said “In 2020 we processed 2.4million transactions valued at $400million across 10 markets. The acquisition of Mangwee is strategic and opens up the Southern African corridor for Zeepay. This will give Zeepay access to Mozambique, Malawi, Angola and Namibia amongst others in our efforts to capture Africa’s $70billion remittance market and opportunity to deploy our award-winning products.”
Paa Kwasi Yankey, Chairman of Zeepay, mentioned “The move to invest in Mangwee is part of our global strategy to expand our footprint across Africa. In an effort to better serve our global clients and reduce the cost of remittance into Africa.”