Ukheshe Acquires EFT International
Ukheshe Acquires EFT International. Ukheshe International has acquired 100% of EFT Corporation Limited (EFTCorp) from parent Loita Transaction Services (LXS), a pan-African payment solutions and financial switching provider.
Ukheshe Technologies and EFTCorp will continue to operate as separate entities and maintain their respective brand identities for the foreseeable future. The transaction sees EFTcorp’s management and founding CEO Stephen Enderby remaining to drive the next phase of growth.
Commenting on the transaction, Ukheshe’s co-founder and CEO, Clayton Hayward, says, “The market is ripe for consolidation and disruption, bringing together these like-minded executive teams & our great products positions us to dominate the African continent as the preferred banking solutions partner”
EFTCorp, is a 23 year old pioneer of digital payments in 35 African markets supporting over 100 banks & processors. EFTCorp is renowned for its core switching skills and issuer processor technology. Ukheshe’s offerings encompass a comprehensive range of end-to-end digital services that assist in digitising banking partners. The deal allows the wider group to access new technologies and opportunities in a diverse market, enhancing exposure to different customers, projects, and business opportunities across Africa and the Middle East.
EFTCorp’s CEO, Stephen Enderby, says, “I have been looking for a partner to help support and grow EFTCorp’s digital strategy. Together with Ukheshe we combine great products and extensive executive depth to achieve our growth ambitions. As a group we continue to look for complementary acquisitions and investment opportunities across the continent and Middle East.”
