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New South African Fintech Millionaires Minted in $94-Million Nedbank-iKhokha Buy
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5 Articles
New South African fintech millionaires minted in $94-million Nedbank-iKhokha buy
South Africa’s fintech scene just minted its latest multimillionaires. Nedbank Group Ltd. has agreed to buy iKhokha, the Durban-based payments startup founded in 2012 by Matt Putman, Ramsay Daly and Clive Putman, for 1.65 billion rand ($94 million) in cash.The deal, announced in a Johannesburg Stock Exchange filing, caps a 12-year journey for the founders, who began with a plan to help small shop owners accept card payments and ended with one of…
The South African banking group Nedbank has signed a binding agreement for the acquisition of iKhokha fintech, specializing in digital payment solutions, for an amount of 1.65 billion rands (approximately $93.3 million). The transaction, fully settled in cash, remains subject to the approval of the regulatory authorities and is expected to be finalized in the coming months. Established in 2012 and based in Durban, iKhokha offers mobile point of …
Nedbank announced on Thursday 14 August the acquisition of the South African fintech iKhokha for 1.65 billion rands (US$87.5 million) as part of a fully cash transaction, subject to the approval of the regulatory authorities and expected in the coming months. Founded in 2012 in Durban by Matt Putman, Ramsay Daly and Clive Putman, iKhokha develops
Nedbank Acquires iKhokha to Boost SME Growth - Pat on Brands
In a landmark deal for South Africa’s fintech and banking sector, Nedbank has agreed to acquire Durban-based payments innovator iKhokha for R1.65 billion in an all-cash transaction. The acquisition, subject to regulatory approval, is expected to close in the coming months. Banking Meets Fintech Innovation According to a statement cited in MyBroadband, Nedbank plans to […] The post Nedbank Acquires iKhokha to Boost SME Growth first appeared on Pa…
Nedbank’s R1.65 billion acquisition of Durban’s iKhokha signals a new era of SME banking
In a landmark deal poised to reshape South Africa’s small business banking landscape, Nedbank has acquired Durban-based payments fintech iKhokha for R1.65 billion in an all-cash transaction. The deal, subject to regulatory approvals, will see iKhokha become a wholly owned subsidiary of Nedbank while retaining its brand, leadership, and entrepreneurial spirit. Founded in 2012 by Matt Putman, Ramsay Daly, and Clive Putman, iKhokha has grown into o…
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