{"id":748934,"date":"2024-02-06T09:30:10","date_gmt":"2024-02-06T07:30:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=748934"},"modified":"2024-02-06T09:30:27","modified_gmt":"2024-02-06T07:30:27","slug":"mtn-fintech-business-gets-r3-8-billion-investment","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/748934\/mtn-fintech-business-gets-r3-8-billion-investment\/","title":{"rendered":"MTN fintech\u00a0business gets R3.8 billion investment"},"content":{"rendered":"\n<p>Payment technology company Mastercard\u00a0has made a minority investment of $200 million (R3.8 billion) into MTN&#8217;s financial-technology business. <\/p>\n\n\n\n<p>The telecommunications provider said that it had signed definitive agreements detailing the transaction with Mastercard yesterday, 5 February 2024. The proposed deal was first announced last August and is subject to customary closing conditions<\/p>\n\n\n\n<p>It added that the transaction values MTN Group Fintech&nbsp;at $5.2 billion (R98 billion) on a cash and debt-free basis, meaning that Mastercard is taking a 3.8% share in the company. <\/p>\n\n\n\n<p>&#8220;These agreements complement the larger commercial relationship between the group and Mastercard to support the continued development and growth of technology and infrastructure to drive financial inclusion across the African continent,&#8221; MTN said.<\/p>\n\n\n\n<p>&#8220;This commercial relationship is a key enabler for the acceleration of our fintech business\u2019 payments and remittance services.&#8221;<\/p>\n\n\n\n<p>&#8220;MTN will continue to explore opportunities for other value-enhancing partnerships and investments, subject to market conditions, with strategic partners and long-term investors.&#8221;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/telecommunications\/729635\/lower-load-shedding-boost-for-mtn\/\" target=\"_blank\" rel=\"noreferrer noopener\">Lower load shedding boost for MTN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the world&#8217;s largest payment companies has made a substantial investment into MTN. <\/p>\n","protected":false},"author":95,"featured_media":681837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[26,1534,28],"class_list":["post-748934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-headline","tag-mastercard","tag-mtn"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/748934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=748934"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/748934\/revisions"}],"predecessor-version":[{"id":748978,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/748934\/revisions\/748978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/681837"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=748934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=748934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=748934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}