South African financial services group FirstRand has acquired a 20% equity stake in Optasia, a UAE-based fintech company, ahead of its planned listing on the Johannesburg Stock Exchange (JSE). The strategic investment positions FirstRand to deepen its reach into underserved markets and leverage Optasia’s innovative financial technology platform.
Optasia provides AI-driven financial services across emerging markets, focusing on enabling access to credit for underbanked and unbanked populations. In South Africa, the company partners with major players such as MTN, Vodacom, and Standard Bank, offering microloan and financial inclusion solutions through mobile platforms.
Optasia operates in 38 countries across Africa, the Middle East, and Asia, serving millions of customers with scalable lending products. Its platform uses advanced algorithms to pre-score customers, process microloans at scale, and even leverage mobile data purchases as a repayment mechanism, a model FirstRand describes as “highly innovative.”
Strategic Fit for FirstRand
FirstRand, which owns FNB, RMB, and WesBank, sees the investment as a gateway to expand its footprint in entry-level client segments and underrepresented markets within its broader African portfolio. The group believes Optasia’s business model aligns with its growth strategy, particularly in areas such as:
- Geographic expansion
- New product development
- Banking, funding, and treasury solutions
In a statement, FirstRand noted:
Optasia is clearly meeting the needs of millions of customers across emerging markets. Its ability to pre-score and scale microloans, while using mobile data as a collection tool, is a breakthrough in inclusive finance.
Earlier this month, Optasia announced plans to raise R1.3 billion through a primary listing on the JSE, aimed at funding organic growth and future acquisitions. In addition, a secondary share sale of approximately R5.0 billion will be offered via private placement to qualified investors, although Optasia will not receive proceeds from this portion of the sale. The listing is expected to enhance Optasia’s visibility in African capital markets and provide a platform for long-term expansion.
