MFS Africa is Africa’s largest and fastest growing mobile money aggregator and interoperability platform. Traditional money transfer channels such as banks or postal agencies are capital intensive and occur high operating costs, which translates into very high cost to end users. Mobile money provides a much more cost effective solution however still suffers from lacking interoperability across networks and borders.
The MFS mission is to provide accessible and affordable alternatives for remittance/money transfers, micro-lending, micro-insurance, micro-savings, and payments. MFS connects mobile money systems to each other and to money transfer organizations, banks and other financial institutions, enabling money remittances TO and FROM mobile money accounts. Goodwell aims to build inclusive financial systems, as a solid foundation for healthy and inclusive economic growth. Mobile money plays a transformative role in Sub-Saharan Africa and their smooth interoperability is elementary for its use case and affordability.
Goodwell invested 1,3 million EUR in december 2017.
Case study, MFS Africa, Financial Inclusion