DPO secures funds to enhance Africa expansion

online paymentBusiness Reporter
JOHANNESBURG, (CAJ News) – DIRECT Pay Online Group (DPO) has received a second investment of $5 million to fund its ambitious strategic plan, including organic growth across Africa.
This investment, which follows the initial $10 million investment made last year, will also be used to strengthen the Group’s position through mergers and acquisitions, integrating the systems of all companies under the group, developing the new payments technology and the DumaPay app.
“The additional capital from Apis is a sign of the confidence that our partners have in us, and is a positive reinforcement of the good work we are doing with the business,” said DPO Group Chairman, Offer Gat.
He said DPO Group had achieved and exceeded the plans laid out in the first phase of the strategic plan.
It has established a presence in 12 African countries namely Botswana,Ethiopia, Kenya, Malawi, Mauritius, Namibia, Rwanda, South Africa, Tanzania, ,Uganda, Zambia and Zimbabwe.
It further plans to set up operations in DRC, Ghana, Mozambique and Nigeria before the end of the year.
DPO Group CEO, Eran Feinstein, said 2017 had been an extremely successful year for the company.
This most recent capital injection will help to further the Group’s strategic plans in the region which will include the establishment of up to 26 branches across Africa, the acquisition of at least one additional company, and the continuation of our technological distribution across Africa.
“We are very proud of the strides we have made towards the achievement of our goals,” Feinstein said.
 CAJ News

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