15/04/2021

Empire News Africa

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Ukheshe Confirms Global Expansion of its FinTech Operations

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Ukheshe set to expand its fintech operations across the Middle East, Europe and Asia Pacific. The move comes on the back of partnerships in various African countries including Kenya, Zimbabwe, Zambia, Namibia, Nigeria, Malawi, Botswana, Angola, Tanzania, Rwanda, Burundi, Democratic Republic of Congo, Mozambique and Ghana.

In addition to collaborating with numerous blue-chip banks, telcos and fintechs, Ukheshe has built strong alliances with Mastercard while acquiring two companies and raising just under R100m within a two-year period.

“We will continue to look for potential acquisitions in these new markets to further support Ukheshe’s growth and strategy as we pursue our goal of reaching unicorn status within the next three years,” says Clayton Hayward, CEO of Ukheshe.

“Ukheshe is excited to be at the forefront of the rapid shift towards innovative digital-first solutions, especially in markets that are ripe for disruption.”

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Ukheshe recently concluded an agreement with the Kenya-based lender KCB Bank Kenya which saw KCB sponsor Ukheshe’s Bank Identification Number (BIN) number, allowing Ukheshe to issue physical and virtual cards across East Africa where KCB has an extensive footprint to drive financial inclusion.

Commenting on the Ukheshe’s growing African footprint, Executive Director for Ukheshe Africa, Mark Dankworth, says, “Our partnerships underpin a shared vision on simplicity and transparency in payments while addressing several open-loop market opportunities to boost wider consumer adoption.”

Currently, Ukheshe provides platforms and technology that support 16 banks and fintechs, three telcos, 3,000 billers, 200,000 merchants, as well as 18 million digital wallets and four million apps combined which process millions of transactions every month.

Edited by Jenna Delport

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