Nedbank Expands SME Payments with $94M Acquisition of iKhokha
South Africa’s Nedbank announced the acquisition of iKhokhaDealroom has a profile for this one. Try Dealroom →, a fintech specialising in POS solutions and merchant services, in a deal valued at $94M. The move will allow Nedbank to expand digital payments and credit distribution to small and medium-sized enterprises, integrating iKhokha’s technology into its existing banking network.
The acquisition is part of a broader wave of consolidation between banks and fintechs in Africa, as financial institutions absorb agile digital players to accelerate innovation and serve specific customer segments more effectively.
For iKhokha, the partnership provides scale and additional resources, enabling expansion of its platform and strengthening its market presence while maintaining focus on merchant experience and payment processing technology.
Source:
A.M.
