Africa | April 25, 2018

Chinese investor and Goodwell Investments back MFS Africa to speed business transactions

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, April 25 – China’s LUN Partners Group said it is backing the digital payments company “to substantially boost cross-border trade and open up new opportunities for Chinese as well as global firms” by making business transactions easier across the continent. Lun and Dutch impact investor Goodwell Investments invested $4.5 million in MFS Africa to to make it easier for customers to make digital payments by connecting mobile money and mobile banking systems to each other. MFS has a customer base of 170 million people across Africa.

  • The inclusion angle… Goodwell Investments, which recently raised €20 million towards a €100 million African financial-inclusion fund, invested in Nigerian fintech firm Oradian in March.
  • Chinese interest… MFS Africa says LUN’s investment is the first by a Chinese investor in an African fintech firm.