Skip to content

Ghana’s Zeepay plans expansion to South Africa, Rwanda

Ghana’s Zeepay plans to raise $10m in equity funding to fund the creation of new mobile-money hubs in East and Southern Africa

According to an Accra source, Takyi-Appiah, Zeepay's new hubs will include processing centres and back offices, and are likely to be in Rwanda and South Africa with the predominance of the Swahili language in Rwanda, making it a good base for reaching out to other markets in the East African region.

While already active in nine markets, Zeepay currently seeks a $10m in new equity funding from remittance companies and private-equity firms between now and June to help it execute this plan extend its reach past new borders.

Image Source: Disrupt Africa

The funds will be invested in marketing and distribution, hiring, creating the said hubs and market-entry capital.

In particular, Zeepay also aims to enter Burkina Faso, Gambia, Tanzania, Ethiopia and Madagascar, whilst setting up physical presence only in countries chosen as hubs. To this effect, she has sealed valuable partnerships with Orange, MTN and other relevant local players in each of these markets.

Ghana In Focus:

Population: 30.417 million (Compared to South Africa's 59.6 million)

GDP: $66.984 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,220 (Compared to South Africa's $6,193)