Uruguayan payments platform dLocal has acquired the Cameroon assets of AZA Finance for $23 million, concluding a transaction that was previously challenged by a third-party lawsuit. The acquisition, which was finalised after the legal suit was dropped, gives dLocal control over AZA Finance's operations in the Central African nation, according to a report from Launch Base Africa.
The purchase represents a strategic expansion for dLocal into a key Francophone African market. Cameroon has a growing digital payments sector, driven by increasing mobile phone penetration and a push for greater financial inclusion across the region. For AZA Finance, a frontier markets-focused currency exchange and payments company, the sale marks a partial exit from its direct operations in Cameroon, though it continues to operate in other African markets.
The deal had been complicated by a legal challenge from a third party, the details of which were not fully disclosed. The resolution of that suit allowed the $23 million transaction to proceed. Such legal and regulatory hurdles are not uncommon in Africa's fast-evolving fintech landscape, where companies often navigate complex local frameworks while scaling cross-border services.
This move by dLocal aligns with a broader trend of international payments firms seeking to consolidate their presence in Africa by acquiring local assets and licenses. The continent's fragmented regulatory environment makes organic market entry a lengthy process, making acquisitions an attractive route for well-capitalised global players. dLocal, which specialises in enabling global merchants to accept payments in emerging markets, has been actively building its African portfolio.
Meanwhile, the wider cross-border payments ecosystem in Africa continues to develop rapidly. Other firms are pursuing different strategies to bridge traditional finance and digital innovation. In a separate development, global payments network Thunes announced it is enabling stablecoin payouts to over 11,500 banks via SWIFT connectivity, a service that could eventually influence how value moves across African borders by linking digital assets with conventional banking rails.
On the ground, pan-African banks are also enhancing their payment infrastructures to facilitate trade. United Bank for Africa (UBA) Kenya, for instance, has been promoting its seamless cross-border payment solutions aimed at enabling easier trade for businesses. These parallel developments highlight the multi-faceted competition in the sector, where specialised fintechs like dLocal, global networks, and established banks are all vying to solve the persistent challenges of cost, speed, and accessibility in African cross-border transactions.
The acquisition of AZA Finance's Cameroon assets provides dLocal with an established operational base from which to serve both local and international clients. It underscores the strategic value that payments companies place on securing regulated entities in individual African countries, which serve as critical nodes in broader continental networks. As integration under the African Continental Free Trade Area (AfCFTA) progresses, efficient payment systems like those dLocal offers are expected to see growing demand.