Network International acquisition of DPO Pay Africa to reshape digital payments

In a move set to reshape Africa's digital payments landscape, Network International's acquisition of DPO Pay Africa is expected to drive financial inclusion, empower SMEs, and navigate the continent's regulatory terrain. Mpho Sadiki, Group Managing Director for Merchant Services Africa at Network International, shed light on the acquisition and its implications during an interview on CNBC Africa. The acquisition of DPO Pay Africa by Network International in 2021 marked a strategic step towards solidifying the company's presence in Africa's digital commerce ecosystem. Prior to the acquisition, Network International predominantly focused on processing payments for banks, fintechs, and telco companies but lacked direct involvement in the digital payments sector. With the addition of DPO Pay Africa, Network International expanded its reach across the continent, tapping into the vibrant digital payments scene that is rapidly evolving in Africa. Addressing the challenges of achieving seamless interoperability between mobile money platforms, banks, and payment networks in Africa, Mpho highlighted the importance of adapting to local payment methods. Unlike Western countries where card payments prevail, Africa has seen a surge in alternative payment methods over the years. Network International recognized the need to operate like a local business to effectively scale payments across the continent. By adapting platforms like the Network One digital payment platform to process mobile money and electronic fund payments, Network International has prioritized interoperability to cater to diverse payment preferences in Africa. When it comes to financial performance, Network International's approach sets it apart in the industry. With the digital payments sector in Africa projected to grow at a compound annual rate of over 26% in the next few years, Network International has focused on optimization and scalability. The company has established five technology hubs across East Africa, South Africa, Nigeria, and Egypt, in addition to a hub in the Middle East. These cloud-based hubs not only leverage cutting-edge technology but also comply with local data regulations. By combining tech innovation with localized solutions, Network International is well-positioned to thrive in Africa's burgeoning digital payments sector. Mpho Sadiki's insights underscore the importance of embracing both technology and financial expertise to drive digital payments innovation in Africa. Network International's acquisition of DPO Pay Africa signifies a significant step forward in the quest for financial inclusion and SME empowerment on the continent.