Mastercard & MTN Group

Mastercard is set to secure stakes in the fintech arm of MTN Group, Africa’s largest mobile network operator. MTN Group’s President and CEO, Ralph, revealed that the deal will encompass a commercial partnership focused on payments and remittances.

MTN’s recent acquisition of a mobile banking license in Nigeria, its largest market, boosted the first half of this year’s (2023) transaction recorded by 37%, raising the amount to $8.3 billion as per TechCrunch. This increase in metric must have fostered the partnership.

The total amount of shares purchased has not been published at this time.

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