Dubai: Network International, the UAE-based payments firm, has acquired DPO Group (DPO), an online payments platform in Africa, for $291.3 million. The company also unveiled a new strategic vision and outlined its ambition to be the fastest-growing payments company in the Middle East and Africa.
The strategy will ensure that Network is able to help businesses to simplifying payments through faster digital onboarding, technology advancements and becoming the e-commerce champion in the region.
As a result of the new strategy, we now expect to deliver significantly accelerated revenue growth of over 20% per annum in the medium term
Through this acquisiotion, Network will benefit from greater coverage with access to DPO’s merchant network of over 60,000 enterprises in 21 countries across Africa. Network will launch ‘DPO Pay’ in the UAE, an end-to-end online payment solution for SMEs, which will include value-added services such as the ability to set up an online store and host a secure payment page that is mobile optimised, enabling payment via any device.