IFC and IFC Financial Institutions Growth Fund invest in payments provider Adumo

SOUTH AFRICA – The International Finance Corporation (IFC), a member of the World Bank Group and the IFC Financial Institutions Growth Fund, have invested in Adumo, South Africa’s largest independent payment provider with a presence in 13 African countries. The investment consists of up to US$15 million in preferred shares to fund the growth of the company. The investment will support Adumo to make digital payment systems more affordable and accessible to smaller businesses in Africa, many of which currently rely on cash transactions. “Through this investment in Adumo, we will…

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