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lundi, 28 mars 2022 17:32

MFS Africa completes acquisition of Nigerian super-agent network Capricorn Digital Limited (Baxi) Spécial

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LAGOS, Nigeria - 28 March 2022: MFS Africa, the largest pan-African digital payments hub, announces that it has completed its acquisition of Capricorn Digital Limited, known in the market as Baxi.


The transaction was first announced in November 2021 pending approval of the Central Bank of Nigeria, which has now been granted. Baxi is one of Nigeria’s largest independent SME-focused electronic payment networks, with over 90,000 agents. It provides a cash-in/cash-out offering as well as value-added services (account opening, money transfer, bill payment and more) to the last mile.  

As well as providing entry into the Nigerian market for MFS Africa, the acquisition also provides exciting synergies: Baxi simplifies and integrates online and offline payments for SMEs and merchants in Nigeria through its omni-channel distribution network, while MFS Africa simplifies cross-border payments and integrates payments via one hub.  

Baxi’s growth has accelerated over the last 24 months achieving over US$1.6 billion of transactions in 2021. MFS Africa will build Baxi into a key node on its digital payment network, enabling customers to make regional and global payments to and from Nigeria.

Baxi’s distributions network represents a crucial interface for banks, fintechs and other financial services providers to reach Nigeria’s 100 million financially unserved or underserved individuals and small businesses.


About MFS Africa

At MFS Africa, we believe that making a payment should be as easy as making a phone call. We believe that access is the currency with which Africans can overcome barriers and injustice and render borders insignificant. We give our partners access to a borderless world of opportunities, connecting enterprises, banks, mobile money operators, and money transfer companies to each other and to over 320 million mobile money wallets in over 35 African countries.

Our infrastructure enables disbursements and collections, and connects partners to our network footprint of MNOs, Banks and Cash Pickups through our API or Business portal Portal, Beyonic. In addition to mobile remittance services, weenable merchant payment, bulk payment, bank-to-wallet transfers, and an array of other cross border and domestic digital payments services. MFS Africa works in close partnership with players across the ecosystem to bring simple and secure mobile financialservices to un-and under-banked customers. For millions of people on the continent and beyond, we make borders matter less.


About Capricorn Digital Limited (Baxi)

Capricorn Digital Limited (Baxi)is one of the largest independent non-bank SME focused electronic payment networks in Nigeria operating an Omnichannel platform that enables digital payment through mobile, in-store location, online, wallets and B2Bchannels. Itsmission is to bring a wide bouquet of digital products and services to the grass root and mass-market consumers through innovation, technology and a world-class retail distribution network that is driven primarily by agents and merchants. Its vision is to have a retail presence onevery street and a digital presence in every household in Nigeria by creating a one-stop-shop for accessing a broad range of products and services, itnot only simplifiesthe buying experience for itsend consumers but also createsa powerful tool for itsagents. It isthe closest and most friendly touchpoint to the mass-market consumers, with itsactive agent spread across the country helpingto drive efficient and effective delivery of itsproducts/services and reducing time to market.

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