South Africa’s largest banking group, FirstRand Ltd., has bolstered its position in JSE-listed fintech Optasia, acquiring an additional 6% stake for approximately R1.48 billion as it doubles down on high-growth opportunities in emerging-market financial inclusion.
The transaction, announced via a SENS filing on Thursday, sees FirstRand — through its subsidiary FirstRand Investment Holdings — purchase 74,103,711 ordinary shares at R20.00 each from Zoey Enterprises Limited, an entity associated with Optasia founder and non-executive director Bassim Haidar. Settlement is expected on or about March 30, 2026.
Following the deal, FirstRand’s total holding in Optasia rises to 26.1%, up from the 20.1% strategic stake it acquired in October 2025 ahead of the company’s JSE listing in November.
Haidar’s indirect shareholding has accordingly been reduced to 1.5%, though he remains on the board and will continue to support the company’s strategic direction. The joint bookrunners for Optasia’s listing waived the applicable lock-up restrictions to enable the transaction.
Optasia, which describes itself as an AI-powered financial infrastructure platform provides credit and airtime financing solutions to underbanked consumers via mobile networks and digital channels across 38 emerging markets. The company processes more than 34 million transactions daily and leverages thousands of real-time data points for risk assessment, allowing banks and mobile operators to serve customers typically excluded from traditional finance.
The fintech has attracted strong investor interest since its debut. In its first full-year results as a listed company, Optasia reported robust performance for the year ended December 2025, with revenue climbing 76% to $265 million (approximately R4.4 billion), exceeding IPO guidance. Adjusted EBITDA rose 52%, while the total value distributed through its platform reached $5.5 billion.
Analysts and investors have positioned Optasia as a scalable player in the fast-expanding digital lending space, particularly in Africa and other high-growth regions where mobile-first solutions are bridging the financial inclusion gap.
FirstRand’s move underscores the appetite among major South African financial institutions for exposure to fintech platforms that complement traditional banking by targeting mass-market and under-served segments.
Shares in Optasia closed at R19.02 on the day prior to the announcement, meaning the R20.00 purchase price represented a modest premium.
This latest investment further cements ties between one of Africa’s most valuable banking groups and a fintech focused on leveraging artificial intelligence to expand credit access in emerging economies.
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