MFS Africa, a leading digital payments company, is set to acquire Baxi’s parent company, Capricon Digital, which serves local SMEs and is one of Nigeria’s largest digital solutions companies for an undisclosed amount.
This deal, subject to approval by the Central Bank of Nigeria, will make Capricon Digital a part of the MFS network, offering access to international payments and providing increased services to SMEs. Nigeria currently has a vibrant SME ecosystem, and the United States provided US$200 million for SME investments there last year. After this acquisition, MFS Africa aims to offer more value-added products and services to support the growth of Nigerian SMEs.
