> I have no doubt that it's easiest to wait, have somebody else develop the market and then buy them. But it also costs a lot of money. Is not having to figure

> I have no doubt that it's easiest to wait, have somebody else develop the market and then buy them. But it also costs a lot of money. Is not having to figure out how to work with M Pesa worth $200m? I think that would depend a lot on your scenario. If you're not currently doing business in Kenya, the ability to accept payment through MPesa is probably worth close to $0. If you're operating in Kenya, the ability to accept payment through MPesa is probably quite high. My takeaway from this is that the ability to accept MPesa payments is one part of a system that, as you say, can be incredibly valuable and worth lots of money. It's just possible that it's only worth anything in a context where accepting MPesa is valuable. Regardless, international expansion is not something to be taken lightly. It's perhaps not always as simple as the local market being the same as yours modulo a few minor local quirks.