Baxi
What it does
Baxi is a Nigerian digital payments and agent banking super-agent, originally operated by Capricorn Digital Limited. Founded in 2014 by Degbola Abudu and Folu Majekodunmi, it built one of Nigeria's largest independent SME-focused electronic payment networks with 90,000+ agents. MFS Africa (now Onafriq) acquired Capricorn Digital in 2021, with the deal completed in March 2022. Baxi processed over $1.6 billion in transactions in 2021.
Agency bankingPOS / mPOS solutionsBill payments & aggregators
Known for
- One of Nigeria's largest SME-focused agent banking networks
- Acquired by MFS Africa (Onafriq) in 2022
- 90,000+ agent network
- $1.6B in transactions processed in 2021
Model & industry
Marketplace / Aggregator modelBanking & Financial Services
In the News
- 2022-03-28 · MFS Africa completes acquisition of Nigerian super-agent network Capricorn Digital Limited (Baxi) · Frontier Africa Reports
- 2021-10-20 · MFS Africa announces expansion into Nigeria with Baxi acquisition · Onafriq