The African tech ecosystem is experiencing a powerful wave of consolidation. This is driven by maturing startups, a competitive funding environment, and the strategic push of global and regional conglomerates, which makes mergers and acquisitions (M&A) to be become the primary exit and growth mechanism for several business owners.
Acquisition and merger, if executed strategically, can lead to broader customer base, innovation and increased profitability.
As a strategy for market expansion, Rank formerly Moni is looking beyond lending, but to deepen its cultural non-informal system by digitizing Africa traditional community savings of thrift contribution and thus the acquisition of Ajomoney and zazzau microfinance bank for regulatory basis to accept deposits, connect to NIBBS to become positioned as a finance service provider.