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Ghanain mobile payment company Zeepay is seeking funds to expand to Eastern and Southern Africa. The company whose operations have been funded by local investors is looking to tap into remittances as well as venture capital funds. New funds will be used to set up regional offices in Rwanda and South Africa. Zeepay will also collaborate with mobile network operators such as MTN and Orange to enable it to reach 100 000 transactions per month in the new markets. The GSMA estimated that there were about 50 million mobile money subscribers in Africa, with over half of them being in Eastern Africa.
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