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FirstRand acquires stake in Optasia concurrent with Optasia’s IPO
FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
JSE ordinary share code: FSR
ISIN: ZAE000066304
NSX ordinary share code: FST
LEI: 529900XYOP8CUZU7R671
(FirstRand)
FIRSTRAND ACQUIRES STAKE IN OPTASIA CONCURRENT WITH OPTASIA'S IPO
FirstRand today informs shareholders that it has entered into a definitive agreement to acquire
20.1% of Channel VAS Investments Limited ("Channel VAS Investments or Optasia"), one of the
world's largest AI-powered fintech platforms providing financial access to people across emerging
markets. FirstRand refers to the SENS issued by Channel VAS Investments for full details of the
transaction.
FirstRand believes that this strategic investment in Optasia represents an exciting opportunity to
leverage a proven fintech platform that has a successful track record of solving the lending needs of
underbanked or unbanked consumers which have had difficulty accessing traditional credit products.
Optasia's ability to pre-score customers, process micro loans at scale and use mobile data sales as a
credit collection mechanism is highly innovative and is clearly meeting the needs of millions of
customers in 38 countries across Africa, the Middle East and Asia. FirstRand believes that the group's
retail and business bank First National Bank will be in a strong position to leverage this platform to
accelerate its own strategy to grow in segments in South Africa where it is underrepresented, such as
entry level client cohorts, and markets in its broader Africa portfolio.
Optasia's business model and strategy represents significant growth opportunities both in terms of
geographic expansion, new product development and other banking, funding and treasury solutions.
The transaction is not a categorisation transaction in terms of the JSE Listings Requirements and is
therefore a voluntary announcement.
Sandton
27 October 2025
Financial Advisor and Sponsor: Rand Merchant Bank (a division of FirstRand Bank Limited)
Date: 27-10-2025 02:17:00
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