Nedbank To Acquire 100% Of Fintech iKhokha
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Guest - Kokkie Kooyman, banking analyst and director at Denker Capital
Nedbank has entered into a binding agreement to acquire 100% of fintech iKhokha in an all-cash deal for approximately R1.65 billion.
The transaction is subject to customary regulatory approvals and is expected to conclude in the coming months, and is part of Nedbank’s push into digital banking services.
Founded in 2012, iKhokha has established itself as the leading trusted partner to South African entrepreneurs. It offers a suite of affordable, accessible SME cash advance, payment, and business management tools.
The acquisition will see iKhokha become a wholly owned subsidiary of Nedbank, while continuing to operate under its own brand and leadership team.
Nedbank has entered into a binding agreement to acquire 100% of fintech iKhokha in an all-cash deal for approximately R1.65 billion.
The transaction is subject to customary regulatory approvals and is expected to conclude in the coming months, and is part of Nedbank’s push into digital banking services.
Founded in 2012, iKhokha has established itself as the leading trusted partner to South African entrepreneurs. It offers a suite of affordable, accessible SME cash advance, payment, and business management tools.
The acquisition will see iKhokha become a wholly owned subsidiary of Nedbank, while continuing to operate under its own brand and leadership team.
