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In a strategic move, MTN has secured a significant investment from financial giant Mastercard, with the latter injecting US$200 million into the telecommunications operator’s fintech arm. While the exact stake Mastercard will hold in MTN Group Fintech remains undisclosed, the transaction was based on a valuation of US$5.2 billion, excluding cash and debt.

The deal, pending customary closing conditions, underscores a deepening partnership between MTN and Mastercard, aimed at fostering financial inclusion across Africa. This investment is poised to fuel the growth of MTN Group Fintech’s payments and remittance services, amplifying its impact in the region.

“This relationship serves as a cornerstone for advancing our fintech business,” noted MTN, emphasizing the pivotal role of collaboration in driving innovation and expanding access to financial services in Africa.

Looking ahead, MTN remains committed to exploring further opportunities for strategic partnerships and investments, aligning with its vision to deliver value and drive sustainable growth in the market.