FirstRand has acquired a 20% stake in Optasia, a United Arab Emirates-based financial technology company that provides credit and financial services to customers across emerging markets.
The investment comes just days before Optasia’s planned listing on the Johannesburg Stock Exchange (JSE).
According to BusinessTech, Optasia operates in 38 countries across Africa, the Middle East and Asia, partnering with mobile network operators and banks to deliver credit solutions to customers who typically do not have access to formal banking services.
In South Africa, Optasia works with MTN, Vodacom and Standard Bank to provide airtime advances, microloans and other digital finance products.
In a statement released on the JSE’s Stock Exchange News Service (SENS), FirstRand confirmed that the deal was concluded through its investment arm, FirstRand Investment Holdings.
The group paid R19.00 per share for its 20% stake, which forms part of a broader share placement ahead of Optasia’s initial public offering.
The fintech company is expected to raise R1.3 billion through the IPO to fund expansion and potential acquisitions in emerging markets.
Optasia uses artificial intelligence (AI) and mobile data analytics to assess creditworthiness among customers who lack formal credit histories. Its technology pre-scores users and facilitates microloans directly through mobile operators.
“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.
The bank added that the partnership would help it reach “entry-level client cohorts” and expand its footprint across Africa, where millions of people remain underbanked.
FNB, one of FirstRand’s major subsidiaries, plans to leverage Optasia’s digital platform to strengthen its mobile-based lending products in markets where traditional banking infrastructure is limited.
Optasia’s chief executive officer, Salvador Anglada, described the investment as a “significant milestone” in the company’s growth strategy.
“For over a decade, we have been driving financial inclusion across emerging markets, using AI and data to unlock access to credit and essential financial services for millions of people. This strategic investment by FirstRand strengthens our foundation for long-term growth,” Anglada said in a statement released via SENS .
The transaction positions FirstRand as one of the first major South African banks to take a direct equity position in a fintech company outside the country, reflecting a broader trend of traditional banks aligning with technology-driven lenders.
Analysts suggest that the move could give the bank access to emerging digital lending technologies and customer data analytics tools.
Optasia’s listing on the JSE marks a rare cross-border fintech IPO for South Africa, as the company aims to attract investors from both the African and international markets.
The public offering is expected to close on 30 October 2025 at 12:00 (SAST), with share allocations to be announced shortly thereafter.
