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
-
Routd’Af Confirms Salary Arrears but Denies 11 Months Without Pay
16:25
-
Algeria Moves Business Registration Stamp Duties Online
17:39
-
Safia Health Promotes Preventive Care Through Tech
17:20
-
Togo To Transfer Youth Entrepreneurship Fund To SME Agency
17:01
-
Togo To Update Legal Framework For Civil Society Organisations
16:59
-
Togo Approves New 10-Year Decentralization Roadmap
16:37
-
Health News Roundup | U.S. Health Aid Shift Puts Pressure on African Public Financing
16:04
-
Ghana and Afreximbank Seal Strategic Accord to Shield Trade Finance and Credit Ratings
15:36
-
Harvest of Ambition: Ethiopia’s Pivot to Wheat Sovereignty and Its Hidden Price Tag
14:52
-
Nigeria Reportedly Engages With Google Over New Subsea Cable as Abuja Emphasises Digital Resilience
12:23
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
MTN Zambia launched a Mastercard-powered virtual card enabling secure global online payments for u...
In this week’s Health News Roundup, the U.S. is tightening health aid through bilateral agreements tied to co-financing and measurable targets, while...
Ghana resolves the $750m Afreximbank dispute. This strategic move avoids default and protects the lender’s credit rating from agency...
Ethiopia seeds 2.7M hectares for summer wheat, aiming for 17.5M tons to end import dependency and save ~$1B annually in foreign exchange. High costs...
The talks reportedly aim to boost digital resilience after West Africa’s recent connectivity disruptions. The project would focus on route diversity,...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...