Telecom
MFS Africa Acquires Baxi, Expands into Nigeria

MFS Africa, has announced a signed agreement to acquire Nigeria’s super-agent networks, Baxi.

“Nigeria is home to one of the most dynamic markets on the continent; it is Africa’s largest economy and home to the largest number of SMEs. It is also the largest remittance market in Africa and home to one-third of intra-Africa remittance flows.”
MFS Africa’s presence in Nigeria to date has been limited given the country’s small number of mobile wallets. With the acquisition, MFS Africa will expand its pan-African network into Nigeria, connecting Nigerian businesses to the continent and the rest of the world.
“This deal is a pivotal step in our journey. By combining Baxi’s network of SMEs operating as agents with our pan-African network, we aim to take Nigeria’s SMEs to the rest of Africa and the world. Our expansion into Nigeria brings us one step closer in our mission of making borders matter less,” said Dare Okoudjou, MFS Africa founder and CEO.
Founded in 2014 by Degbola Abudu and Folu Majekodunmi, Baxi is one of Nigeria’s largest independent SME-focused electronic payment networks.
Baxi provides a cash-in/cash-out offering as well as value-added services including account opening, money transfer, bill payment, among others, to the last mile. Through its network of more than 90,000 agents, Baxi has already processed over $1 billion in transactions this year.
Following the acquisition’s close, MFS Africa will build Baxi into a key node on its digital payment network, allowing customers to make regional and global payments to and from Nigeria.
MFS Africa will also expand Baxi’s proposition for offline SMEs to select markets within MFS Africa’s footprint of 320 million mobile wallets across more than 35 African countries.
Previous restrictions to mobile network operators’ participation in mobile money services have restrained the sector’s growth in Nigeria.
To serve the more than 55% of Nigerian consumers currently excluded from formal financial services, Nigerian fintech that has built strong agent networks are the crucial interface to reach Nigeria’s 31,000,000 financially underserved and 67,000,000 financially unserved populations.
Supporting and nurturing SMEs is crucial to Nigeria’s economy, as they contribute 50% of Gross Domestic Product and provide 76% of jobs. With its presence in 36 Nigerian states, Baxi fills a critical gap by providing unbanked Nigerians and informal SMEs access to financial services.
The focus areas of both companies are complementary. Baxi simplifies and integrates online and offline payments for SMEs and merchants in Nigeria through its omni-channel distribution network. MFS Africa simplifies cross-border payments, integrating payments via one hub.
“We’re thrilled to partner with the MFS Africa team to expand our service offering for individuals and SMEs. We believe that we’ve barely scratched the market’s potential. Only 3% of Nigerian SMEs have access to credit products. By teaming up with MFS Africa, and with the strong support of our local commercial banking partners, we can offer more value-added products and services, such as cross-border payments, to support Nigerian SMEs in their growth,” said Degbola Abudu, Baxi CEO.
Following the acquisition of Beyonic in 2020, MFS Africa continues to accelerate and lift its growth with strategic investment and acquisition, which are actively supported by its shareholders. LUN Partners Financial and FT Partners served as financial and strategic advisors to MFS Africa in this transaction.
PWC Nigeria and Nihilent advised MFS Africa on Commercial, Product and Technological due diligence. Da Hui and TNP were legal advisors to MFS Africa. Baxi was advised by financial advisor Verdant Capital and DAI Magister. Their legal counsels were Udo Udoma & Bello-Osagie (UUBO) in Nigeria and Akin Gump Strauss Hauer & Feld LLP in London.
Telecom
Telcos Compensate 75m Subscribers over Poor Network Quality – NCC

Telecom operators in Nigeria have compensated more than 75 million subscribers for poor network services, according to the Nigerian Communications Commission (NCC).

This represents one of the largest consumer redress exercises in Africa’s biggest mobile market.
Recall that the NCC on March 29, 2026, mandated that mobile network operators directly credit affected subscribers with airtime when network quality falls below established thresholds, compensating for dropped calls, failed SMS, and disrupted data connections.
Giving update, the NCC rising from its 109th board meeting recently, said that the credits are calculated based on customers’ average spending patterns in areas where service quality fell below regulatory benchmarks.
“The board noted substantial progress in the implementation of the commission’s directive, particularly the full compliance, which has resulted in compensation being offered to over 75 million affected subscribers,” the communiqué stated.
The NCC said it is still conducting independent validation to confirm that all eligible subscribers received their due compensation, while urging consumers to continue engaging with the regulator on service-related issues.
Nigeria currently has over 200 million mobile subscriptions.
The exercise addresses long-standing consumer complaints about dropped calls, slow data speeds, and inconsistent coverage.
The board also reviewed ongoing network expansion efforts, noting that operators have committed to deploying over 12,000 new sites, with more than 5,000 already completed.
It further highlighted investments in fibre infrastructure and concerns over persistent vandalism of telecom facilities.
The NCC reiterated its commitment to improving service quality through stricter enforcement, consumer protection, and infrastructure development in the sector.
Telecom
Nigeria, Others Stuck on WiFi 4 As World Adopts WiFi 6, WiFi 7

Nigeria among other African countries are falling “dangerously” behind the rest of the world in the adoption of WiFi technologies, with nearly half of the continent’s internet users still relying on the ageing WiFi 4 standard, while developed markets increasingly transition to WiFi 6 and WiFi 7.

This is according to Ookla’s Global State of WiFi 2026 report, which analysed speed test data from Android devices worldwide and found a widening gap between Africa and leading global markets.
The firm used these devices to track the prevalence of different WiFi generations (WiFi 4 through WiFi 7), the spectrum bands being used (2.4GHz, 5GHz and 6GHz), and the installed base of customer premises equipment connected to those devices.
While WiFi 6 has become firmly established across much of the world, Africa remains heavily dependent on legacy wireless technologies that were introduced more than a decade ago, the report finds.
While countries such as South Korea, Japan, Singapore and the US are rapidly migrating toward WiFi 6 and WiFi 7, Africa remains largely anchored on WiFi 4.
South Africa remains one of the continent’s most advanced broadband markets, yet the country is struggling to gain traction with the latest WiFi technologies, states Ookla.
The report notes: “WiFi 4 – a standard finalised back in 2009 – still accounted for 48.8% of Africa’s WiFi samples in the first quarter, with WiFi 5 a fast riser at 34.4%, up from 19.9% four years earlier. WiFi 6 climbed from 1.6% to 16.8% over the same period, while WiFi 7 barely registered at 0.1%.”
Ookla’s findings show a divide between advanced broadband markets and developing regions when it comes to next-generation WiFi adoption.
By comparison, WiFi 6 has already captured 27% of the global market, up from just 6% in 2022.
“WiFi 7 has also begun establishing a foothold globally, accounting for nearly 2% of worldwide connections. Meanwhile, older WiFi 4 and WiFi 5 technologies continue to decline globally, falling to 34% and 39%, respectively,” says Ookla.
The strongest uptake of WiFi 6 and WiFi 7 is concentrated in technologically-mature markets such as the US, Canada, South Korea, Japan, Singapore and several Western European countries, where fibre broadband penetration is high and consumers upgrade smartphones, routers and home networking equipment more frequently, according to the report.
“These markets have also moved more aggressively to open up the 6GHz spectrum needed to support WiFi 6E and WiFi 7 services, helping accelerate adoption of newer wireless technologies.”
WiFi 7, the next evolution of the WiFi network protocol, promises to be a substantial upgrade over its predecessor – surpassing the speeds of Ethernet cables, and significantly improving connection reliability and latency over WiFi 6.
While SA’s market is still in the early stages of migration to next-generation wireless technologies, research firm 6Wresearch forecasts strong growth in SA’s WiFi 6 and WiFi 6E ecosystem over the next few years, driven by increasing demand for high-speed connectivity, fibre expansion and growing use of connected devices.
Legacy spectrum dependency
The report also highlights Africa’s continued dependence on older wireless spectrum bands.
The congested 2.4GHz band remains the dominant carrier of internet traffic across Africa, accounting for 52.4% of all WiFi samples during the first quarter of 2026.
Although this represents a significant improvement from the 76.4% share recorded in 2022, the continent still lags behind regions where users have largely migrated to higher-capacity spectrum, the report states.
The 5GHz band has expanded rapidly across Africa, growing from 23.6% of samples in 2022 to 47.6% in 2026. However, the newer 6GHz spectrum, which is critical to unlocking the full capabilities of WiFi 6E and WiFi 7, remains virtually non-existent across the continent.
“The congested 2.4GHz band remained the continent’s majority carrier at 52.4%, down from 76.4% in 2022, with the 5GHz band the chief beneficiary, rising from 23.6% to 47.6%.”
One of the starkest findings in the report is Africa’s complete absence from the global shift towards 6GHz WiFi.
Across the continent as a whole, the 6GHz band accounted for a flat 0.0% share of WiFi samples during the first quarter of 2026. South Africa was the only market to record any meaningful activity on the band, but even then usage reached just 0.2%.
The report states: “Just 0.2% of WiFi connections in South Africa ran over the 6GHz band in the first quarter of 2026. In a market where households keep routers and handsets for years, and where service providers have been slow to bundle 6GHz-capable customer premises equipment, an allocation on paper turns into real-world use only gradually.”
According to forecasts from Grand View Research, SA’s demand for WiFi 6 and WiFi 6E technologies is expected to accelerate sharply over the remainder of the decade, driven by enterprise digital transformation, smart-home deployments and increasing bandwidth requirements.
Device readiness
The Ookla report suggests that consumer devices are no longer the primary barrier to WiFi upgrades globally and in SA.
According to Ookla, 61.4% of Android devices sampled worldwide already support WiFi 6 or newer technologies. This indicates that many markets now possess the device ecosystem needed to support more advanced wireless networks.
“However, Africa faces a different reality. The continent’s slower replacement cycle for smartphones and routers, combined with high equipment costs, and slower deployment of advanced customer premises equipment, continues to delay migration to newer standards,” notes the report.
Other obstacles include regulatory and spectrum availability constraints, as a result of the full 6GHz spectrum still being debated by the Independent Communications Authority of South Africa and local telecoms operators.
Widening connectivity gap
The Ookla findings suggest Africa risks falling further behind as the rest of the world accelerates toward WiFi 6, WiFi 6E and WiFi 7.
While the continent has made notable progress by shifting traffic from the overcrowded 2.4GHz spectrum to the more capable 5GHz band, the overwhelming dominance of WiFi 4 and the near absence of 6GHz adoption highlight the scale of the challenge ahead.
While SA can function without widespread WiFi 6 and WiFi 7 adoption, there are significant economic, technological and competitiveness consequences if the country falls too far behind.
“These include reduced return on fibre investments, challenges supporting artificial intelligence and data-intensive applications, lower business competitiveness, persistent network congestion, slower smart city and internet of things development.”
Telecom
Yuno Partners with Onafriq to Unlock Pan-African Payments for Global Merchants

Yuno, the global financial infrastructure platform, today announced a strategic partnership with Onafriq, the leading Pan-African payments network, to bring Africa’s most expansive payments infrastructure to merchants worldwide. Through this integration, Yuno’s clients gain instant access to Onafriq’s network spanning 43 African markets, nearly 1 billion mobile wallets, 500 million bank accounts, and 2,000 cross-border payment corridors, all through Yuno’s single, developer-friendly API.

As businesses increasingly look to Africa as a high-growth frontier, the partnership addresses one of the most persistent friction points in cross-border commerce: the complexity of connecting to fragmented, local payment rails across dozens of markets. By combining Yuno’s payment infrastructure capabilities with Onafriq’s deep-rooted African network, the two companies aim to dramatically reduce the time and technical overhead required for merchants to go live and scale across the continent.
Onafriq’s infrastructure supports the full payment lifecycle, from real-time disbursements and omnichannel collections to card issuance, treasury management, and stablecoin settlement, all underpinned by local regulatory licences and ISO 27001 and CMML3-certified security. For Yuno’s merchant base, this means the ability to pay out to mobile wallets, bank accounts, or cash pickup points, and accept payments across channels, without managing multiple integrations or compliance frameworks independently.
“Africa represents one of the most exciting growth opportunities in global commerce, and yet too many merchants are still locked out by payment infrastructure that wasn’t built for scale. Our partnership with Onafriq changes that,” said Juan Pablo Ortega, Co-Founder and CEO, Yuno. “By bringing their unmatched African network into our infrastructure layer, we’re giving our clients a single path to a continent-wide ecosystem with the reliability, compliance, and local depth they need to grow with confidence.”
The partnership is part of Yuno’s broader strategy to build a truly global platform that connects merchants to every meaningful payment method and network, regardless of geography. Following successful expansion in the Middle East, Europe, and Asia, Africa is a key pillar of Yuno’s next phase of growth.
For Onafriq, the integration with Yuno extends its reach to an entirely new segment of global merchants who now benefit from a streamlined entry point into African markets. The partnership reinforces Onafriq’s mission of making borders matter less, bringing together mobile money operators, banks, fintechs, and enterprises into one connected payment ecosystem.
“Africa’s payment landscape has never lacked ambition or momentum, what it needed is the right infrastructure that matches its pace. Our partnership with Yuno changes the equation for global merchants who want to be part of this growth story” said Dare Okoudjou, CEO, Onafriq. “Through a single connection, global merchants can reach consumers and businesses across Africa more seamlessly than ever before, while more people across the continent gain access to the digital economy on their own terms. For us, this is what making borders matter less looks like in practice.”
The integration is now live and available across Egypt, Ghana, Kenya, Nigeria, Cameroon, Cote D’Ivoire, and Uganda. Yuno’s clients can access Onafriq’s capabilities, including mobile money disbursements and collections, card issuance, and FX treasury services, directly from the Yuno dashboard with no additional contract or integration required.
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