South African private equity 1K1V goes into the fintech sector for the first time
Monday, 11 March 2019 13:12
For its fifth investment in Africa, private equity firm One Thousand One Voice (1K1V) targeted @Pay, a South Africa based fintech, which serves as a bridge between the unbanked and the sophisticated financial institutions in the continent. Thanks to "@Pay’s platform used by many firms, its clients can pay their bills at large retail centres using any payment method.
The financial details of this investment have not been provided but, in the African portfolio of 1K1V, @Pay joins its South African peers Redsun Dried Fruit & Nuts, Beefmaster, SanLei and HEPSA.
1K1V’s stated their strategy is to invest between $10 million and $14 million in firms with positive cash flow able to generate over $2 million of EBITDA.
Idriss Linge
Live News
-
Ethiopia unveils teleSign e-signature system to streamline government services
21:26
-
Somalia rolls out certified cybersecurity program for government ICT staff
21:16
-
Pests and Flooding Hit Cameroon’s Cotton Sector, Driving Annual Losses Above CFA10 Billion
20:50
-
Cameroon Raises CFA144 Billion in Bond Sale as Short-Term Funding Pressures Persist
20:35
-
U.S. Signals Growing Interest in Cameroon’s Critical Minerals but Flags Investment Risks
20:32
-
Oil Explorer Eco Atlantic Taps Industry Veteran Keith Hill to Lead Board
20:30
-
Nigeria Secures $500 Million World Bank Funding to Strengthen Agricultural Value Chains
19:58
-
MTN Brings in Former Orange CEO Stéphane Richard to Strengthen Strategy
19:38
-
Namibia’s Mopane Field Sees 57% Jump in Estimated Hydrocarbon Resources
18:41
-
At Cape Town summit, Horus Capital pushes Africa’s infrastructure debate towards project delivery
18:30
Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...
WAEMU posts 3.31 trillion CFA francs trade surplus in Q4 Exports surge 50.4%, led by gold, ...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Keith Hill appointed chairman as company reshapes governance Brings decades of experience in African oil exploration Move comes as Eco Atlantic...
$500 million IDA credit to support small farmers and agribusiness Project targets key crops including rice, maize, cassava, and soy Initiative aims...
Stéphane Richard joins MTN board as independent non-executive director Appointment signals focus on governance and long-term strategy Move comes as...
Estimated resources rise to 1.38 billion barrels of oil equivalent Volumes remain contingent, not yet classified as recoverable reserves New drilling...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...