Johannesburg, South Africa – 23rd February 2017 - MFS Africa, the leading Pan-African fintech company, has announced the appointment of Visa’s former Vice President of Strategy and Sales for Emerging Markets Digital, Reg Swart. Swart joins the global mobile financial services company as Chief Commercial Officer to drive strategic business plans following accelerated revenue growth during the past 12 months.

In his previous role, Reg was an integral member of the leadership team responsible for establishing global mobile money at Visa. He held the position of Senior VP of Global Business Development at Fundamo, a company that enabled two-thirds of mobile financial services in emerging markets, eventually acquired by Visa in 2011. Reg will drive MFS Africa’s business development and commercial strategy to further grow its network of partners on its MFS Hub. He will also be responsible for spearheading MFS Africa’s efforts to increase volumes by expanding its relationships with existing mobile operators, connecting new providers – retailers, ecommerce and internet companies – and driving cross-border remittances.

“MFS Africa has established a payment network that is connected to over 120 million mobile wallets throughout 24 markets, and boasts an impressive host of international blue chip clients. Mobile wallets are Africa’s new bank accounts. By connecting 75% of these wallets, MFS Africa has quietly established the next generation payment network for Africa,” said Reg Swart, Chief Commercial Officer at MFS Africa. “Our unprecedented footprint across the region puts us in a unique position to capitalise on the rapid growth of cross-border remittances, and the societal and governmental focus on mobile financial services.”

 

“Our accelerated growth has meant that we need a proven industry practitioner with expertise in building and monetising large-scale networks,” said Dare Okoudjou, CEO and founder of MFS Africa. “Reg will be an intrinsic part of continuing MFS Africa’s growth over the coming years. His experience means he brings unique insight into the individual markets making up the African continent, and the future of payments globally.”

The MFS Hub allows service providers to facilitate transactions across networks, across borders and across currencies via a single API ensuring compliance with all necessary regulations. Operators, banks and money transfer organisations can provide customers with more flexible payment options, increasing the velocity and volume of electronic money in the ecosystem. Through partnerships with mobile network operators including Airtel, Econet, MTN, Orange, Tigo and Vodafone, MFS Africa has unparalleled reach into mobile wallets across the continent.

 

Press Contacts

Tamsin O’Neill

CCgroup for MFS Africa

+44 (0) 203 824 9200

mfsafrica@ccgrouppr.com