Tag: Vodacom Group

Mastercard Goes Africa And Buys Stake in Mobile Payment Operator MTN at $5.2 Billion Valuation!

Payment Institution tamir - August 15, 2023

Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cell phone provider, which it values at $5.2 billion on a cash and debt-free basis. While the specifics of Mastercard's investment will remain confidential until the deal's completion, which will likely occur soon as both parties near the end of the due diligence process. This news has led to a significant surge in MTN's stock, marking its highest increase in three months.

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