Network International & Magnati Merge to Create MEA's Fintech Champion
A significant development in the Middle East and Africa's fintech landscape: Network International and Magnati have merged, creating a new entity operating as Network International LLC. The deal, led by Brookfield, aims to foster a UAE homegrown fintech champion for the region.
The merger, which took place in Dubai, United Arab Emirates, brings together two prominent players to form a leading fintech company in the MEA region. Hadi Badri, Chairman of the Board at Network International, sees this as an opportunity to create a regional champion.
The merged entity, Network International LLC, will offer a comprehensive suite of solutions including digital payments, data-driven insights, SME lending, and advanced fraud prevention. It aims to drive innovation, scale, and financial inclusion across the Middle East and Africa. Murat Cagri Suzer, Group CEO of Network International, expects the merger to bring greater value to clients and partners through diverse product offerings and faster innovation.
The company also plans to collaborate with governments to accelerate digital transformation and expand access to financial services in the region. The integration of both businesses will occur in phases, with their brands continuing to coexist for the time being.
The merger of Network International and Magnati, now operating as Network International LLC, positions the new entity as a key player in driving fintech innovation and financial inclusion across the Middle East and Africa. With the support of Brookfield and the vision of its leadership, the company is set to bring diverse offerings and accelerated innovation to the region.
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