TEMPLARS advised Mastercard on the Nigerian law aspects of its minority investment of up to US$200 million in MTN Group Fintech – the digital financial services arm of MTN, Africa’s largest mobile network operator.

It is expected that this investment, by way of a strategic partnership, will accelerate MTN’s Fintech business and enhance its mobile money capabilities across 13 markets in Africa including Benin, Cameroon, Cote d’Ivoire, Eswatini, Ghana, Liberia, Nigeria, Republic of Congo, Republic of Guinea, Rwanda, South Africa, Uganda, and Zambia.

This strategic investment marks a significant milestone in the financial services industry, combining Mastercard’s global payments network with MTN’s expansive mobile money operations across Africa. The partnership is poised to accelerate financial inclusion and digital payment adoption in some of the world’s fastest-growing economies.

Commenting on the transaction, TEMPLARS Partner Zelda Akindele said: “We are pleased to have played a role on this very strategic and transformative deal. This transaction not only underscores the growing importance of mobile money services in Africa’s economic landscape but also highlights the potential for innovative partnerships to drive financial inclusion and growth. We look forward to seeing the positive impact this partnership will have on consumers and businesses across Africa”.

The TEMPLARS team was led by Partner, Zelda Akindele assisted by Senior Associate, Victor Sameria and Associate, Omowonuola Adekanmbi.