Lorax Capital Partners in Egypt deal; AfricInvest exits
MDP has received a strategic investment led by Lorax Capital Partners.
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MDP, a Cairo-based payments technology infrastructure group in the Middle East and Africa, has received a strategic investment led by Lorax Capital Partners (LCP). The deal also sees AfricInvest exit its position after several years as an investor.
MDP provides payments technology infrastructure, including card issuing, processing, and digital solutions, to more than 200 banks and 60 fintechs across Africa and the Middle East. The company has processed over one billion transactions and issued more than 350 million cards.
The new investment, led by LCP, is also backed by a consortium of development finance institutions, including the European Bank for Reconstruction and Development, the International Finance Corporation, and Proparco.
“This investment marks a pivotal milestone in MDP’s journey,” said Ahmed Nafie, co-founder and CEO of MDP. “We are proud of the robust platform and trusted reputation we’ve built across 40-plus countries. With the backing of Lorax and a distinguished group of global institutional investors, we are well-positioned to accelerate our expansion, deepen our processing capabilities, and further scale our operations across Africa, the Middle East, and beyond. We also extend our sincere thanks to AfricInvest for their instrumental role in supporting our strategic growth and regional leadership.”
“We believed in MDP’s ability to pivot into payment processing and played a key role in transforming the company from a pure industrial player to a technology-driven leader. Today, MDP stands as a vital partner in Egypt’s fintech and banking ecosystem, actively contributing to the country’s financial inclusion strategy,” said Ismail Talbi, senior partner at AfricInvest.
Skander Oueslati, chief investment officer at AfricInvest, added, “Our commitment to fostering regional connectivity and supporting portfolio companies in their pan-African expansion was a driving force in our partnership with MDP. We opened doors in sub-Saharan Africa, helping MDP to establish local partnerships and presence, paving the way for further growth.”
Commenting on the partnership between MDP and the consortium, Mohamed Sadek, managing partner at LCP, said: “We are excited to be backing MDP’s founders in realising their strategic vision of becoming the partner of choice for financial institutions across the region. We are confident that LCP and its highly experienced co-investors will play an important role during MDP’s next phase of growth which will focus on further investments in technology, expanded product offering and geographic expansion.”
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