“Nigerian fintech startup Baxi, one of the country’s leading super-agent networks, has been acquired by the pan-African payments company MFS Africa to enable the latter’s expansion into Nigeria. Founded in 2014 by Degbola Abudu and Folu Majekodunmi, Baxi provides a cash-in/cash-out offering as well as value-added services – account opening, money transfer, bill payment and more – to the last mile through its network of more than 90,000 agents. The startup has already processed over US$1 billion in transactions this year, and has now been acquired by MFS Africa , the largest pan-African digital payments hub. MFS Africa, which acquired East African payments management startup Beyonic last year , plans to build Baxi into a key node on its digital payment network, allowing customers to make regional and global payments to and from Nigeria.”