Mfs
“Can one interoperability hub become the essential cross-border payment rails connecting Africa's fragmented mobile money ecosystem to the global financial system?”
Founded2009
HQJohannesburg, South Africa
FoundersDare Okoudjou
IndustryFintech / Cross-border payments
The story
MFS Africa was founded in 2009 to solve mobile money fragmentation across sub-Saharan Africa, building the continent's largest digital payments hub connecting mobile wallets, banks, and fintechs. The company expanded its international remittance connectivity by partnering with global players like PayPal's Xoom, enabling diaspora remittances directly into African mobile wallets. The company's strategic focus has been on interoperability infrastructure rather than direct consumer products.
Last 12 months
—
Product timeline
2009
Founded as a pan-African mobile money interoperability hub connecting mobile money wallets across Africa.· banking
2022
Partnered with PayPal's Xoom remittance service to enable international mobile money transfers into Africa.· pivot
The stack
FX & payouts
Accounting gap: none