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A South African fintech startup, Scale, has entered into a strategic partnership with global payments firm Mastercard to simplify how businesses issue payment cards across parts of Africa.
The collaboration will focus on five markets, including Senegal, the Ivory Coast, Kenya, Zambia, and Zimbabwe.
The two companies are introducing a unified integration system designed to reduce the technical and regulatory burden associated with card issuance.
In many African markets, businesses must typically work with multiple intermediaries, including banks, payment processors, and compliance partners, before bringing a card product to market.
The new model aims to consolidate these steps into a single platform, allowing companies to move faster and concentrate on building services for their customers.
Scale, which was established in 2022 by Barbara Woollams and Miranda Naidoo, will provide the underlying infrastructure for issuing cards, along with onboarding tools and regulatory support.
Mastercard, on the other hand, will contribute its global payments network, established relationships with banks, and experience in navigating different markets.
Naidoo said many African innovators are held back not by a lack of ideas, but by the complexity of launching card-based products.
She noted that the partnership is intended to offer a clearer and more efficient route for businesses looking to enter the market and grow.
Mastercard echoed this view, stating that simplifying card issuance could help fintech companies and non-financial firms expand access to digital financial services and bring more users into the formal economy.
The move comes as demand for digital payments continues to rise across the continent.
Industry estimates suggest that Africa’s financial services sector could generate around $230 billion in revenue by 2025, while globally, newer card-issuing platforms are expected to account for roughly 35% of all payment cards within the next few years.
The agreement gives Scale access to Mastercard’s network and credibility as it expands into multiple markets.
These markets often struggle to attract sufficient financing due to higher perceived risks, despite strong demand for trade-related credit.
Industry observers note that reduced participation by international banks in some African markets has further tightened liquidity in recent years, making it harder for businesses to access trade finance and sustain operations.
The partnership between BII and Deutsche Bank is intended to address this gap by combining development finance with commercial banking expertise.
Anand Jha, Global Head of Trade Finance for Financial Institutions at Deutsche Bank, said:
“This partnership enhances our risk sharing capacity and strengthens our ability to facilitate sustainable cross-border transactions across the wider African market. By combining our global platform with BII’s development mandate and regional expertise, we aim to unlock greater trade flows to the continent.”
Ndaba Mpofu, Managing Director and Head of Financial Services Debt and Trade Finance at BII, added:
“We are delighted to partner with Deutsche Bank in a joint mission to expand trade finance into African frontier markets where our investment can deliver development impact at scale. Strengthening trade finance is vital for facilitating the movement of essential goods and commodities in our markets and supporting sustainable growth. Expanding access will help build a more resilient ecosystem and unlock economic opportunities across Africa.”
The initiative highlights a growing trend of collaboration between development finance institutions and global banks to reduce risk and unlock capital in emerging markets.
Swedfund, the Swedish development finance institution, and the Danish Investment Fund for Developing Countries (IFU) have joined forces with Sturdee Energy to drive renewable energy expansion in Southern Africa.
Bokra, an Egyptian fintech company, has successfully closed a pre-seed funding round of $4.6 million.
Africa-focused agribusiness investment firm AgDevCo has received a significant financial boost through an $85 million joint investment from Swedfund, British International Investment (BII), and Norfund.
