Mitsumi, a distributor of IT and infrastructure products in the Middle East and Africa (MEA) region, has entered into a strategic partnership with CLOWD9, a cloud-native payment platform. This collaboration aims to enhance Mitsumi’s network through CLOWD9’s advanced payment solutions.

Formalising the Partnership

The agreement was announced during a Fintech trade mission organized in Nairobi, Kenya, led by the Mayor of London. This partnership is expected to streamline Mitsumi’s operations and facilitate its expansion into new markets.

Mitsumi currently offers a wide range of supply chain solutions for both direct and indirect distribution of IT and telecom products across 19 countries. By integrating CLOWD9’s technology, Mitsumi aims to boost its processing capabilities and support its rapid growth trajectory.

The Digital Payment Landscape in MEA

The digital payment sector in the MEA region is witnessing significant growth. The fintech digital payment market size reached USD 363.73 billion in 2023, growing at a rate of 26.8% year-over-year. By 2032, the market is projected to expand to USD 8.75 trillion with an anticipated compound annual growth rate (CAGR) of 44.7%.

Key countries such as Nigeria and Kenya are playing pivotal roles in this ecosystem, underlining the importance of the region’s fintech development. This growth can be attributed to various factors including demographic changes, improved connectivity, regulatory reforms, and proactive governmental initiatives.

To meet these evolving market demands and anticipate future growth, Mitsumi and CLOWD9 are working together to optimise payment options and provide robust processing services that cater to the expanding MEA market.