In a bold cross-border investment, South Africa’s largest bank by market value, FirstRand, has secured a 20.1% stake in Dubai-based fintech company Optasia.
The move comes as Optasia prepares for its highly anticipated Johannesburg Stock Exchange (JSE) listing.
Optasia, an AI-driven microfinance platform, operates in 38 countries spanning Africa, the Middle East, and Asia, providing digital financial services to millions of underbanked individuals.
The fintech company plans to raise ZAR 6.3 billion (approximately $375 million) through a mix of new shares and secondary offerings during its JSE debut.
The acquisition aligns with FirstRand’s strategy to expand its footprint in high-growth markets and tap into innovative digital financial solutions.
By partnering with Optasia, the bank gains access to a cutting-edge platform designed to enhance financial inclusion and streamline access to credit for underserved populations.
“Investing in Optasia allows us to merge traditional banking expertise with innovative fintech solutions, opening doors to markets where financial services are limited,” said a FirstRand spokesperson.
“This partnership extends our reach across Africa and into the Middle East and Asia, supporting sustainable growth and innovation.”
Industry analysts highlight that this deal represents a growing trend of South African banks seeking opportunities in emerging markets outside the continent.
The collaboration underscores the role of fintech in driving financial inclusion and reshaping how banking services are delivered to previously underserved regions.
Optasia’s JSE listing is expected to provide the fintech company with capital to accelerate regional expansion, improve product offerings, and strengthen technological infrastructure.
The investment also signals confidence in the long-term growth of AI-driven financial platforms in MENA and African markets.
With this acquisition, FirstRand positions itself as a forward-thinking player in the convergence of banking and technology, demonstrating how traditional institutions can leverage fintech partnerships to expand globally while addressing critical financial gaps.
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