Acquisition of Zoona Transactions Limited by Remitix Limited and Mukuru Money Transfer

The Commission has approved the acquisition of Zoona Transactions Malawi Limited by Remitix and Mukuru Money Transfer.

On 3rd November 2020, the Commission received an application from Remitix Limited and its subsidiary Mukuru Money Transfer Limited for authorization of a proposed acquisition of Zoona International Transactions Limited and its subsidiary Zoona Transactions Limited.

The Commission instituted investigations to establish its impact on competition and the economy of Malawi. Information gathered by the Commission shows that there are a considerable number of international money transfer operators (MTOs) that are operating on the Malawi market.

According to the assessment made, the transaction would not result in any change of the market structure neither did any competition factors change as such it was very unlikely that it would affect competition on the market.

In light of the findings, the Commission approved the proposed acquisition of Zoona Malawi by Mukuru Money Transfer