FirstRand Bets on AI Fintech Optasia to Unlock New Lending Opportunities in Africa
FirstRand Bets on AI Fintech Optasia to Unlock New Lending Opportunities in Africa. FirstRand Limited has announced it has entered into a binding agreement to acquire a 20.1% equity stake in Optasia Holdings, a Dubai-based artificial intelligence-driven fintech company specialising in micro-financing and digital credit solutions for under-banked consumers in emerging markets.
Founded in 2012, Optasia operates in 38 emerging markets and partners with major telecom operators and financial institutions, including South Africa’s MTN Group, Vodacom Group and Standard Bank Group. The company reports it processes more than 32 million loan transactions daily, serving over 120 million monthly active users.
For FirstRand, whose subsidiaries include First National Bank (FNB), RMB Holdings and WesBank, the investment extends beyond capital. It represents a strategic alignment with an established fintech innovator that has built one of the most scalable digital lending infrastructures across Africa and other emerging regions.
According to the group, this stake allows it to leverage Optasia’s proven technology and data analytics capabilities to accelerate its growth in under-represented client segments and further drive financial inclusion. FirstRand views the collaboration as a significant step toward addressing lending challenges faced by unbanked and under-banked consumers, particularly in Africa’s fast-growing economies.
Optasia, meanwhile, is preparing for a Johannesburg Stock Exchange (JSE) prime board listing. The fintech plans to issue approximately R1.3 billion in new shares and will facilitate an existing-shareholder private placement worth around R5 billion. Optasia will not directly benefit from the secondary sale proceeds, but the listing marks a major milestone for the company’s expansion strategy and deepens its engagement with African investors.
For South African entrepreneurs and small businesses, this partnership could hold long-term significance. As financial institutions embrace AI-driven platforms like Optasia’s, access to micro-loans and short-term credit facilities may become faster, more data-driven and more inclusive. Startups that traditionally struggle to secure funding due to limited financial history or collateral could benefit from digital credit scoring and alternative lending models.
This move also signals a shift in how major banks are positioning themselves to support Africa’s growing base of small enterprises. With Optasia’s reach into markets underserved by traditional banking, FirstRand’s investment could help bridge gaps in business financing, especially in rural and township economies where entrepreneurs often rely on informal lending channels.
Beyond immediate financial benefits, the integration of AI-enabled systems in lending has the potential to simplify business growth for startups, allowing entrepreneurs to access working capital quickly, build digital credit profiles, and scale their operations without heavy administrative barriers.
For the South African financial ecosystem, the transaction represents both a vote of confidence in Africa’s fintech potential and an acknowledgment that digital-first solutions are key to expanding economic participation. As Optasia readies its JSE debut, the collaboration with FirstRand could mark a pivotal chapter in redefining how banks, technology, and entrepreneurs connect to shape the continent’s next wave of financial innovation.
