Ukheshe acquires EFTCorp, gaining full ownership of the fintech company.

South African fintech company Ukheshe has acquired payment solutions provider EFT Corporation (EFTCorp) from Loita Transaction Services with the support of Development Partners International. This acquisition follows Ukheshe’s purchase of South African startup Oltio from Mastercard in 2020. EFTCorp will continue to operate independently with its current management and CEO retaining their positions. Ukheshe Technologies, founded in 2018, offers digital payment solutions in collaboration with banks, telcos, and other financial service providers. The company previously secured a Series A funding round for international expansion. EFTCorp serves 35 African markets and provides payment solutions to over 100 banks. The acquisition will allow EFTCorp’s traditional clients to access Ukheshe’s expertise in digital wallets, digital onboarding, and KYC.