DPO Spreads Into Western Africa – More Acquisitions In Pipeline?
Kenyan Direct Pay Online Group continues to expand its reach in Africa with a move to set up offices in Ghana. Having taken a foothold in East Africa and Southern Africa, the Western reaches of the continent have become the next venture for DPO. The African payment service provider DPO has announced the official opening of its Ghanaian office to accommodate the company’s rapid growth in this market. The new office will act as the DPO headquarters for the West African region.
Eran Feinstein
According to DPO Group CEO, Eran Feinstein, the entry into Ghana is a strategic step in the expansion of DPO’s portfolio in West Africa. “This move gives us great joy as it will strengthen DPO’s West African presence as well as enhance our overall portfolio,” said Mr. Feinstein. “Ghanaian consumers and businesses are increasingly embracing the convenience that online payment brings. With the launch of our new office in Ghana, we will be able to serve these merchants and their consumers better, and expand further into West Africa,” he added.
Since its establishment in 2006, DPO’s expansion activities have driven the company into new markets including Uganda, Rwanda, Zanzibar, Tanzania, Ethiopia, Zambia, South Africa, Zimbabwe, Namibia, Mauritius, Botswana and now Ghana making it one of Africa’s largest payment service providers. WeeTracker has monitored their expansion with an earlier focus on their funding. The USD 5 million raised from UK based private equity fund, Apis Partners after its initial USD 10 Mn investment were used to grow across Africa through mergers and acquisitions and developing its payments technology platform and apps.
Its acquisition of VCS in Namibia and Botswana was the company’s last continental venture before choosing to expand into West Africa, the DPO Group CEO said. Since the acquisition, Eran Feinstein described their ambitions “to accelerate the intensification of payments in Africa, as we seek to empower every person and organization to have the option to pay and be paid online anywhere, anytime, and by any mode of payment.” The move into Ghana sets them up perfectly for exponential growth on the continent and allows them to begin strategizing for global expansion.
