Author: Ebuka Okafor

Nedbank’s $93M iKhokha acquisition signals African banks shifting from fintech partnerships to ownership for SME market control

By 0

Nedbank finalized an all-cash acquisition of Durban-based fintech iKhokha for approximately R1.65 billion (around $93 million) in August 2025, marking a decisive move to dominate the SME digital payment space. Founded in 2012, iKhokha is a leading South African fintech offering card machines and digital payment solutions targeted at small and medium enterprises. This deal secures Nedbank’s foothold in the fintech landscape through full ownership rather than partnership. This acquisition highlights a growing trend among African banks shifting from partnerships to outright control of fintech firms, signaling increased investor confidence and a maturing fintech market focused on SME digital innovation.The…

Read More