A major milestone in the evolution of Africa and the Middle East’s digital finance sector has been reached, as fintech leader Network International and UAE-based payment solutions provider Magnati have secured regulatory approvals to merge into a single entity. Backed by a Brookfield-led consortium, the merger is set to finalize in Q3 2025, creating the largest fintech platform in the MEA region, with a total payment volume (TPV) exceeding $400 billion.
This unified entity will serve over 250 financial institutions, 240,000 businesses, and more than 20 million cardholders across 50+ markets. It aims to supercharge digital transformation in the MEA region by providing a comprehensive suite of solutions—including merchant acquiring, issuer processing, data analytics, small business lending, and advanced fraud and security tools.
“This combination marks a pivotal moment in shaping the future of fintech in the Middle East and Africa,” said Murat Cagri Suzer, Group CEO of Network International. “By uniting our scale, talent, market expertise, and partnerships, we’re building the region’s most capable fintech platform—focused on long-term growth, innovation, and value delivery.”
A Strategic Merger with Global Ambition
The deal brings together two complementary players with deep regional roots and technical capabilities. Network International, based in Dubai, has long been a digital payments enabler across MEA, powering financial ecosystems from Nigeria to the UAE. Magnati, formerly part of First Abu Dhabi Bank (FAB), began operating independently in 2022 after Brookfield acquired a 60% stake, valuing the company at $1.15 billion. FAB retains a 40% stake and will continue collaborating with the new entity through a long-term partnership.
While the two companies will retain their distinct brands during the phased integration, they will jointly drive a future-ready platform. The merged business will offer a significantly expanded product portfolio designed to meet the evolving needs of SMEs, large enterprises, and government agencies. The focus areas will include mobile payments, e-commerce, cross-border transactions, and digital financial inclusion.
Driving Inclusion and Innovation
The newly formed fintech powerhouse is well-positioned to capitalize on the rising adoption of digital payments across the MEA region. With economies shifting toward cashless transactions, governments increasing support for financial inclusion, and businesses seeking efficient, secure payment options, the merger responds to a clear market demand.
Network International’s recent collaborations underscore its expanding influence in Africa’s digital economy. It was appointed Payment Processor–Issuing for Airtel Africa, and earlier this year, entered a multi-market processing partnership with MTN Group Fintech, covering 13 countries. These alliances complement Magnati’s strong presence in the Gulf and its advanced payment infrastructure, creating a pan-regional network that stretches from Dakar to Dubai.
Brookfield’s Bold Bet on Fintech
For Brookfield, the merger marks a strategic bet on the future of payments in the Global South. The firm positions the combined Network-Magnati platform as a flagship investment in a region with untapped digital potential.
While integrating two large operations across diverse regulatory and infrastructural environments may pose challenges, analysts agree the new entity sets a powerful precedent for fintech scale and sophistication in MEA.
As the digital economy continues to expand, Network International and Magnati’s merger could become a blueprint for regional fintech consolidation—and a legitimate contender among the global giants of financial technology.
