Network International and Magnati have announced they received key regulatory approvals to merge into a single entity, owned by a Brookfield-led consortium.
With a combined TPV of over USD 400 billion, the merged entity will serve over 250 financial institutions, 240.000 businesses, and more than 20 million cardholders across 50 markets in the MEA region. This comes at a time when the fintech market in the MEA was valued at USD 18.07 billion in 2024 and is projected to reach USD 103.65 billion by 2033, growing at a CAGR of 21.42% from 2024 to 2033.
The newly formed organisation will offer a comprehensive suite of offerings, including digital payments, data and insights, SME lending, and augmented fraud and security solutions, and is committed to enabling businesses. It will continue to collaborate with governments to support the digitalisation of economies and promote financial inclusion in the region.
The combined business will prioritise scale, optimisation, and growth to leverage the rapid adoption of digital payments by consumers and merchants, including mobile payments, e-commerce, and cross-border transactions. This will offer an expanded portfolio of products and services tailored to meet the needs of customers, from SMEs to large enterprises and government agencies. Both companies will also realise sizable efficiencies while expanding their operational reach across the MEA region.
According to the companies' officials, the merger process is expected to be completed during Q3 2025. Additionally, the integration of the two businesses will occur in a phased manner, and they will continue to operate as separate brands.
More partnerships from Network International
In March 2025, Network International partnered with flydubai to launch a mobile money payment option, supporting transactions for bookings and various airline services in the East African region. This allowed travellers to access a broader range of payment options beyond just cards. Customers flying with flydubai could make payments using Mpesa, Airtel Money, and MTN Mobile Money when booking flights directly through flydubai's website or mobile app.
