South Africa’s FirstRand Bank has acquired a 20% stake, valued at approximately $70 million, in UAE-based fintech firm Optasia. The deal strengthens FirstRand’s presence in Africa’s rapidly growing digital finance sector, while advancing financial inclusion across 38 emerging markets spanning Africa, the Middle East, and Asia.
The investment arrives as Optasia prepares for its upcoming listing on the Johannesburg Stock Exchange (JSE), marking a significant step in the company’s regional growth strategy. The fintech platform plans to raise $68 million to accelerate expansion and fund acquisitions, alongside a secondary share sale of $261 million through private placement.
Strategic Partnership to Boost Financial Inclusion
Optasia offers digital credit and microloan services to millions of unbanked and underbanked users through partnerships with telecommunications and banking institutions, including MTN, Vodacom, and Standard Bank. By leveraging mobile data analytics and automated pre-scoring tools, the platform simplifies access to credit for individuals without formal banking histories.
“Optasia’s ability to pre-score customers, process microloans at scale, and use mobile data sales as a credit collection mechanism is highly innovative,” FirstRand said in a statement. “It is clearly meeting the needs of millions of customers in 38 countries across Africa, the Middle East, and Asia.”
Driving Digital Lending Innovation
The acquisition aligns with FirstRand’s broader goal of expanding into underrepresented African markets while developing next-generation digital lending products for entry-level clients. The bank, which operates through FNB, RMB, and WesBank, plans to integrate Optasia’s technology into its ecosystem to strengthen its position as a leading digital lender.
As fintech adoption continues to reshape Africa’s banking landscape, the partnership reflects a growing shift toward scalable, data-driven solutions aimed at bridging financial access gaps for the continent’s 350 million unbanked adults.
