Payment services provider Kalixa and telecommunications company Millicom have announced a joint venture with a view to build externally generated business volume and revenue.
As a result of the project, a payments service provider will be developed for Africa and Latin America, with both Kalixa and Millicom investing $4m into initial development.
Millicom’s existing influence in Africa and Latin America will serve to be beneficial in the partnership, as their digital service provider Tigo is already established in 14 countries.
Ed Chandler, CEO of Kalixa, said in a statement: “This joint venture is part of our three-year plan to grow the Kalixa group and leverage its strong technology and payment processing capabilities to increase shareholder value.”
