Pan-African cross-border payment app Chipper Cash is set to acquire Zambian fintech company Zoona Transactions International.
This acquisition will allow Chipper Cash, which has a self-reported user count of 5 million, to add new online services and a new agent network to its offerings. This move is also an expansion strategy by the company into Zambia.
Chipper Cash’s VP of Corporate Development, Laura Kennedy, says Zoona’s acquisition will offer it incredible innovation, a great partner network, complementary products and services, and talented in-country teams.
For Zoona’s co-founder and CEO, Brett Magrath, this acquisition allows the two companies to combine their expertise to connect consumers and businesses across the continent while positioning themselves as the first choice provider of financial services for the people of Africa.