South African Fintech Startup Ukheshe Acquires 100% Stake in EFT Corporation

South African fintech startup Ukheshe precocious announced that it has acquired a 100% involvement successful EFT Corporation, an Africa-focused outgo services provider. According to the startup, the acquisition takes Ukheshe person to its stated extremity of attaining a larger footprint successful Africa and beyond.

Access to New Technologies and Markets

The South African fintech startup, Ukheshe, precocious disclosed that it had acquired a 100% involvement successful EFT Corporation, an Africa-focused outgo services provider. The acquisition provides the combined entity with entree to caller technologies and opportunities and enhances Ukheshe’s vulnerability to antithetic markets, customers, and concern opportunities.

According to a statement from Ukheshe, the acquisition of EFT Corporation from its genitor steadfast Loita Transaction Services (LXS) came astir 2 years aft it acquired the integer outgo level Masterpass. The takeover besides occurred conscionable a fewer months aft the fintech startup closed its backing concern with Development Partners International (DPI) successful 2023.

Remarking connected his company’s latest high-profile acquisition, Clayton Haywards, the co-founder and CEO of Ukheshe said:

“The marketplace is ripe for consolidation and disruption, bringing unneurotic these like-minded enforcement teams & our large products positions america to predominate the African continent arsenic the preferred banking solutions partner.”

As explained successful the statement, the acquisition moves Ukheshe person to its extremity of expanding its footprint crossed Africa and beyond. This successful crook helps the fintech startup present accrued worth to its stakeholders.

Stephen Enderby, CEO astatine EFT Corporation, said Ukheshe’s acquisition ended his firm’s hunt for a spouse to enactment its integer strategy. James Griffiths, Partner astatine DPI, said the acquisition underscores his firm’s assurance successful Ukheshe’s enactment and its maturation potential.

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