MAG Group Limited

What MAG Group Limited does

MAG Group Limited is a privately held multinational conglomerate holding company headquartered in Abuja, Nigeria, established in 2022 with origins tracing to Socketworks Nigeria Limited (incorporated 2002). The group operates nine wholly-owned subsidiaries spanning enterprise software, fintech, payments, secured logistics, and trade promotion, with a stated presence in 27 countries and regional offices in Abuja, Lagos, and London. SW Global (SWG) Limited is its flagship technology subsidiary and is described as one of the largest providers of technology services to the Federal Government of Nigeria.

The group builds and deploys a portfolio of proprietary enterprise software products including the Integrated Tax Management System (ITMS), Human Resource Management Information System (HRMIS), Integrated Postal Management System (IPMS), E-immigration Management System, and BioPulse multi-biometric identity ecosystem (ABIS superset supporting civil and criminal datasets), delivered via SaaS/ASP, on-premises, or hybrid models. In fintech, three subsidiaries — Innovate 1Pay, Payfixy, and Entrusted — hold Central Bank of Nigeria licenses covering wholesale foreign currency importation/distribution, exclusive BDC distribution in Northern Nigeria, and international money transfer, generating transaction-fee revenue. NewEra Delivery Services provides secured courier logistics and the Nigerian Arabian Gulf Chamber of Commerce operates a bilateral trade association.

Revenue is generated through four primary streams: software licensing (SaaS/ASP), customized enterprise solutions on multi-year contracts, fintech and payment processing fees, and professional services for implementation and deployment. The go-to-market is enterprise field sales targeting government agencies and large enterprises, supported by direct engagement through regional offices and an affiliate distribution network. Pricing is quote-based and not publicly disclosed, consistent with custom B2B enterprise and government contracting.

Name

MAG Group Limited

Legal name

MAG Group Limited

Website

https://maggrouplimited.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

MAG Group Limited is a Nigerian-headquartered multinational conglomerate holding nine subsidiaries across enterprise software (tax, HR, immigration, biometrics), CBN-licensed fintech and payments, and logistics, serving government agencies and large enterprises primarily in Nigeria and across 27 countries.

Ownership category

akta.pro rank

Product category

Enterprise Software and Government Technology

NAICS

Management of Companies and Enterprises (551)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Low-Code/No-Code Application Platforms (HDAEAKAA)

Keywords

• Enterprise software solutions
• Government technology systems
• Biometric identity platforms
• Fintech payment services
• Tax management systems

Headquarters

HQ city

Abuja

HQ country

Nigeria

HQ region

Africa

Offices11 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Licensing (SaaS/ASP): The company provides software as a service and platforms as a service models, deploying solutions for various enterprise and government clients. Solutions are delivered through cloud-based subscriptions or application service provider arrangements.
2. Fintech and Payment Processing: Through subsidiaries like Innovate 1Pay, Payfixy, and Entrusted, the company generates revenue from payment processing, foreign currency services, and financial transaction fees including wholesale currency importation and Bureau de Change distribution.
3. Enterprise Software Solutions: Customized engineered enterprise solutions including tax management, HR systems, ERP, and government software deployed for government agencies and private sector clients.
4. Professional Services: Implementation, deployment and consulting services for enterprise solutions across technology, software, and financial services sectors.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

MAG Group Limited is a multinational conglomerate holding company that develops and deploys enterprise software solutions (ITMS, HRMIS, ERP, IPMS, e-Immigration, AFIS, BioPulse) for government agencies and private sector clients, alongside fintech and payment services (Innovate 1Pay, Payfixy, Entrusted, NETPOST) and secured logistics (NewEra Delivery). Solutions are offered as SaaS/ASP or on-premises deployments with implementation and consulting services across 27 countries.

Product overview

MAG Group Limited is a multinational conglomerate holding company offering a portfolio of enterprise technology solutions. The product portfolio consists of multiple standalone core products including the Integrated Tax Management System (ITMS), Human Resource Management Information System (HRMIS), Smart Crowdfunding Solution, ERP System, Integrated Postal Management System (IPMS), Automated Fingerprint Identification System, E-immigration Management System, and BioPulse multi-biometric identity ecosystem. These products serve government agencies and private sector clients across various industries including technology, financial technology, payments, and trade promotion.

Differentiator

Problem solved

Functional benefit

Brands

• ITMS (Integrated Tax Management System): Automated tax management solution for data collation, analysis, calculations, and compliance enforcement
• HRMIS (Human Resource Management Information System)
• IPMS (Integrated Postal Management System)
• BioPulse
• Smart Crowdfunding Solution
• ERP System
• E-immigration Management System

Products and services

• Integrated Tax Management System (ITMS) Software solution that automates all tax management processes including data collation and analysis, tax calculations, compliance enforcement, and facilitates secure, reliable, and transparent payments. Designed for government tax authorities and enterprises with tax management needs.
• Human Resource Management Information System (HRMIS) Software application and database system that automates end-to-end management of personnel, HR operations, and records within an organization. Targeted at large enterprises and government agencies.
• ERP System Enterprise Resource Planning software that facilitates multiple administrative functions including data management, workflow automation, data analysis, and productivity/profitability improvement. Built for businesses seeking better operational outcomes.
• Integrated Postal Management System (IPMS) Comprehensive automation and ERP solution integrating all aspects of daily postal operations into one centralized system. Designed for postal service operators and government postal agencies.
• Automated Fingerprint Identification System (AFIS) Comprehensive biometric solution that captures and verifies fingerprints on the go, creating a secure database of captured fingerprints and enforcing access control to ensure data security. Designed for law enforcement, immigration, and identity verification use cases.
• E-Immigration Management System Self-service immigration portal providing an immigration and database management system for seamless online application, biometric enrollment, and e-payment for citizens and diasporans. Designed for government immigration agencies.
• BioPulse Multi-Biometric Identity Ecosystem Automated Biometric Identification System (ABIS) that serves as a superset of AFIS, functioning as a multi-biometric identity ecosystem built with compliance, security, and improved experience while lowering operational costs using a converged identity platform approach supporting civil and criminal identity datasets. Deployable on-premises, cloud, or hybrid architecture.
• Smart Crowdfunding Solution Easy-to-use crowdfunding platform offering tools necessary to launch and manage a unique crowdfunding campaign, connecting users with potential investors and donors.
• SW Global Bespoke Software and IT Infrastructure Services Provision of bespoke software solutions and IT infrastructure through SW Global (SWG) Limited, the group's core IT subsidiary, to government agencies and enterprises in Africa and global markets.
• Wholesale Foreign Currency Importation, Evacuation and Distribution Services (Innovate 1Pay) CBN-licensed international money transportation service providing secure and reliable financial services including wholesale foreign currency importation, evacuation, and distribution.
• Payfixy Online Payment and Bureau de Change Distribution CBN-licensed online payment service and exclusive distributor of foreign currency to Bureau de Change operators in Northern Nigeria, with currency exchange services at major International Airports in Nigeria.
• Entrusted International Money Transfer Services CBN-licensed person-to-person foreign currency (FCY) transfer service offering fast, secure, and reliable cross-border remittances.
• NewEra Secured Courier and Logistics Services Secure, responsible, and confidential courier services to institutions, corporations, and individuals, using a proprietary delivery system and rigorous safety protocols to ensure sensitive documents remain uncompromised during transit.
• NETPOST Secure Payment Platform Payment platform that avails users a secure and convenient way to pay for services even if they do not have a bank account.
• OIS Services International Business Support and IT Ecosystems Robust and sustainable IT ecosystems facilitating a host of applications and promoting business efficiency across education, healthcare, and banking industries.
• NewWorks eGovernment Solutions and Services Innovative software development and data management services that transform government processes such as immigration, delivering secure and scalable e-government solutions adaptable by any government.

Quantifiable outcome

• SW Global is one of the largest providers of technology services to the Federal Government of Nigeria
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators3 records

Recent moves17 records

Expansion highlights5 records

Broad incumbents

• Thales: Global digital identity and security provider with biometric, e-government, and border management solutions. Competes with MAG Group's BioPulse and E-immigration systems at the multi-country government level.
• IDEMIA: Global leader in biometric identity, civil and criminal ID systems, and government documents. The closest large-scale competitor to MAG Group's BioPulse ABIS platform and E-immigration offering.

Direct peers

• Interswitch: Nigerian digital payments and commerce company operating licensed payment infrastructure and enterprise software. Comparable to MAG Group's fintech subsidiaries (Payfixy, Innovate 1Pay, Entrusted) and its government-facing enterprise stack.
• Flutterwave: Pan-African payments infrastructure provider with cross-border remittance and enterprise payment APIs. Comparable to Entrusted (remittance) and Innovate 1Pay (international money transport) within MAG Group.
• Paystack: Nigerian online payments processor (acquired by Stripe). Comparable to Payfixy and NETPOST in the Nigerian payment-processing segment and to MAG Group's broader fintech stack.
• Cellulant: Pan-African digital payments platform serving banks, mobile wallets, and governments. Comparable to MAG Group's payment-processing and money-transfer subsidiaries across African markets.
• SystemSpecs (Remita): Nigerian enterprise software and payments company behind Remita, the federal government salary/payments platform. Directly comparable to MAG Group's ITMS and government-facing software portfolio in Nigeria.
• Dermalog: German biometrics vendor with strong African national-ID deployments (e.g., Nigeria, Ghana). Direct competitor to MAG Group's BioPulse multi-biometric identity platform in the African government market.
• ZKTeco: Global biometric verification and identity management provider with broad product range across fingerprint, face, and ABIS. Comparable to MAG Group's AFIS and BioPulse offerings at the biometric-systems level.
• Computer Warehouse Group (CWG): Nigerian enterprise IT solutions and software company with banking and government customers. Comparable to SW Global and NewWorks for enterprise and government software deployments in West Africa.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mag-group-limited-int

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MAG Group Limited