“Fin-Tech” Is Heating Up in Africa, MENA
Cape Town, South Africa at night, with the city lit up by all the lights

Dubai-based Network International, one of the largest payment processing firms in the Middle East, is reportedly considering an IPO that could value the company at over US$ 1 billion.  The company is jointly owned by Abraaj, an emerging markets buyout firm whom Fortune recently referred to as ‘the biggest private equity firm you’ve never heard of’, and Emirates NBD, Dubai’s largest lender.

Payment processing companies are rapidly becoming the trend du jour amongst emerging markets investors. In June, Interswitch, a Nigerian payments startup, announced that it is considering public listings in London and Lagos as part of a regional expansion drive throughout sub-Saharan Africa. The company’s majority shareholders include London-based private equity group Helios Investment Partners, South Africa’s Adlevo Capital Managers and the International Finance Corporation (IFC).

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