Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

FinTech

Chipper Cash to acquire Zambian fintech Zoona

Article Image
Pan African cross-border payment solutions company, Chipper Cash, says it will acquire Zambian fintech company Zoona Transactions International.

The purchase is part of the online platform's expansion plans into Zambia and will allow it to add new online services and a new agent network to its offerings. The deal is currently awaiting approval from the Zambian government.

"In exciting news, today we announced the intended acquisition of the Zoona group, which includes all services under the Tilt Africa brand," Chipper Cash said in a Linkedin post.

Speaking to Tech Cabal, Chipper Cash's VP of Corporate Development Laura Kennedy said the acquisition would offer it incredible innovation, a great partner network, complementary products and services, and talented in-country teams.

On the other hand, Zoona's co-founder and CEO, Brett Magrath, added that the deal allows the two companies to combine their expertise to connect consumers and businesses across the continent.

"Bringing these companies together under the Chipper umbrella will mean we can open up even more borders, bringing quality financial services to life in more countries and connecting more people across the continent," Kennedy continued.

African expansion

The acquisition comes after the cross-border payment solutions company launched in South Africa.

Founded by Africans and built out by a global team, Chipper Cash facilitates free peer-to-peer (P2P) money transfers and instant cross-border payments in Africa.


Want to know more about mobile financial services in Africa? Check out our dedicated Fintech content channel here on Connecting Africa.


Zoona's acquisition will ensure that Chipper Cash is in Zambia, bringing its African network to eight countries, including Ghana, Kenya, Rwanda, Tanzania, Uganda and Nigeria. Outside of Africa, it is also active in the US and UK.

The Zambian fintech company was founded in 2008 and developed a tilt service that enables companies and individuals to pay and transfer to bank and money mobile providers in the country through cash.

Related posts:

*Top image source: Chipper Cash Twitter account .

— Matshepo Sehloho, Associate Editor, Connecting Africa

Innovation hub

Story

SA minister says AI institute should execute ideas

South Africa's Communications and Digital Technologies minister, Khumbudzo Ntshavheni, has officially launched the country's Artificial Intelligence Institute.

Story

Connecting Africa Podcast: S2 Ep. 2 – Remittance revolution

The Connecting Africa Podcast team spoke to SendSprint founder and CEO Damisi Busari about the remittance market and how to improve the experience that Africans in the diaspora have with sending money home.

More Innovation hub

Partner perspectives

All Partner Perspectives

Africa Tech Perspectives

Story

Women in Tech: Spotlight on inclusivity with Digital Council Africa's Juanita Clark

Digital Council Africa founder and CEO, Juanita Clark, talks to Connecting Africa as part of our Women's Month series about her career and what needs to be done to make the tech industry intentionally inclusive.

Story

Women in Tech: Spotlight on legal tech with Life.file's Sinal Govender

Life.file co-founder, Sinal Govender, talks to Connecting Africa as part of our Women's Month series about her career and how we can encourage more young girls to enter the legal tech field.

Story

Digital inclusion as a catalyst for economic empowerment: Mastercard's Imelda Ngunzu

Mastercard's Imelda Ngunzu talks to Connecting Africa about how digital payment solutions and mobile money are transforming the lives of small business owners, women and marginalized groups in East Africa.

More AfricaCom perspectives

Latest video

More videos

Guest Perspectives

Story

Omdia View: July 2022

By Omdia Analysts

Kenya and Zambia move towards 5G with new spectrum allocations while Tunisie Telecom plans to shut down its 3G network - that and more in this month's Omdia View.

Story

Omdia View: June 2022

By Omdia Analysts

5G was the major news trend across Africa in June, as Orange became the first operator to launch 5G in Réunion and operators in Senegal accelerated their 5G plans despite spectrum delays.

More Guest Perspectives

Sponsored video

More videos

Flash poll

All polls

Like us on Facebook

Newsletter Sign Up


Sign Up