ZEEPAY
16.4.2021 19:57:10 CEST | Business Wire | Press release
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.
In a private placement Zeepay and Mangwee agreed to a sale of 51 percent of Mangwee shares to Zeepay.
The deal makes Zeepay Ghana the majority shareholder of the entity.
Mangwee has been in operations since 2018, and was initially set up to operate as an alternative wallet targeting university students in Zambia with the aim of assisting to drive the cost of mobile money services downward.
Zeepay is the leading African challenger fintech with operations across 20 African countries and 30 day active in 10 of them. The company specializes in paying remittances into mobile money wallets across Africa and is regulated by both Bank of Ghana as an EMI issuer and in the UK as a Money Transfer Operator, by the Financial Conduct Authority.
The merger is the first of its kind; that two Indigenous African fintechs into Mobile Money operations have come together to grow, representing a wind of change ongoing on the African continent. Zeepay's financial advisor Verdant Capital, acted as Zeepay's M&A advisor on the acquisition.
The Managing Director of Zeepay, Andrew Takyi-Appiah, in an interview mentioned that “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."
“Acquisition of Mangwee by Zeepay marks the opening of Southern Africa to the world of conveniently affordable IMT services,” said Aston Njovu, co-founder of Mangwee.
Bwalya Kampamba and Aston Njovu, Founders of Mangwee mentioned “the partnership with Zeepay is good for Africa and Zambia. Through this we will be able to leverage their award winning mobile money products such as Remit Insurance, Payments, and Visa-direct to deepen financial inclusion and open up the markets.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20210416005493/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
From Abu Dhabi to Imola: A2RL Expands Internationally with Historic Autonomous Racing Debut at Iconic Italian Track29.6.2026 12:12:00 CEST | Press release
A2RL’s first international race marks a major step towards its ambition to become the world’s first international championship for fully autonomous racecarsUp to 5 teams including TUM, PoliMOVE, Unimore, Kinetiz and Constructorselected from the 2025 season will compete in the world’s first autonomous multi-car race in EuropeA2RL engaged Italy’s motorsport, engineering and student communities through Motor Valley Fest and a university roadshow ahead of the raceFollowing European debut at Imola, the 2026 season will conclude at Yas Marina Circuit in Abu Dhabi The Abu Dhabi Autonomous Racing League, A2RL, will make its international racing debut on 5 September 2026 in Imola, Italy, bringing up to 5 fully autonomous racecars based on the Dallara Super Formula SF23 to one of the world’s most iconic and demanding racing circuits. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260629726789/en/ From Abu Dhabi to Imola: A2RL Expands
Philip Morris International and Maestro Andrea Bocelli Present “Believe. Further”29.6.2026 12:00:00 CEST | Press release
A new platform for dialogue on progress, reflecting a mutual commitment to advancing positive change Philip Morris International (PMI) (NYSE: PM) and Maestro Andrea Bocelli today presented “Believe. Further”, a multi-year platform designed to engage audiences in a broader conversation on progress and positive change. The launch took place at the Torre dell’Arsenale in Venice, where heritage and forward movement meet, a fitting setting for two voices on a similar path. What do you do when the world has already decided what you are? “Believe. Further” begins from that question. It is built around a shared belief in progress and a shared conviction in transformation. At a time when science and technology allow better choices, it brings together two voices that, independently and in parallel, are undergoing a change in motion, and invites the beginning of a different conversation with society at large. Maestro Bocelli’s journey has been defined by belief. From the beginnings of his career
Doubtless Pet Care Launches to Provide Peace of Mind to Pet Parents and Help Their Pets Live Happier, Healthier Lives29.6.2026 10:15:00 CEST | Press release
Doubtless combines industry-leading pet insurance with innovative care solutions, protecting more than 6 million pets across 10 global markets Doubtless launches today with the goal of helping more pet parents across the world access quality care for the pets they love. The company brings together a leading global portfolio of pet insurance brands with a growing range of connected solutions designed to support pet parents at every stage of their pet’s life. With over 4,000 employees, Doubtless insures 6 million pets across 10 markets in North America, Europe and the United Kingdom. “Uncertainty about the financial commitments associated with having a pet should never keep families from experiencing the joy of a life with pets,” said Dirk Beeckman, CEO of Doubtless. “By harnessing the power of our international footprint, we are building on our leadership in pet insurance to create a global suite of solutions for pet parents, veterinarians and industry partners that makes pet care easie
Samsung Bioepis Announces Positive Preliminary Phase 1 and Phase 3 Data for SB27, a Proposed Biosimilar to Keytruda (Pembrolizumab)29.6.2026 09:19:00 CEST | Press release
Phase 1 study demonstrated pharmacokinetic (PK) equivalence between SB27 and Keytruda; Phase 3 study demonstrated equivalent objective response rate (ORR) at Week 24Phase 1 and Phase 3 studies expected to be completed within 2026 Samsung Bioepis Co., Ltd. announced today that the Phase 1 and Phase 3 studies on SB27, a proposed biosimilar to Keytruda1 (pembrolizumab), have met their primary endpoints. “We are excited to announce preliminary results from the Phase 1 and Phase 3 studies for SB27, our pembrolizumab biosimilar candidate. These topline positive results reinforce our scientific expertise and leadership in biosimilar development,” said Donghoon Shin, Executive Vice President and Head of Clinical Sciences Division at Samsung Bioepis. “We are on track to complete both Phase 1 and Phase 3 studies within this year. Leveraging our robust quality management system, we remain committed to advancing our biosimilar portfolio to broaden access to life-saving biologic medicines for patie
IQM Named a Major Player in the IDC MarketScape: Worldwide Quantum Computing 2026 Vendor Assessment29.6.2026 09:00:00 CEST | Press release
IQM today announced it has been named a Major Player in the IDC MarketScape: Worldwide Quantum Computing 2026 Vendor Assessment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260629748732/en/ IQM named a major player in the IDC MarketScape IQM believes this recognition comes as institutions worldwide move quantum computing out of shared cloud access and into infrastructure they own and operate themselves. IQM calls this Production Quantum: full-stack, open-architecture superconducting systems deployed on premises, inside customers' own data centers and HPC environments, where organizations own the hardware, build internal expertise, and run quantum processors alongside their existing classical infrastructure. According to the IDC MarketScape, "For institutions building long-term quantum programs, this means the workflows and intellectual property developed on IQM hardware remain portable." The report further advises: "Consi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom