Fintech firm Crossfin set to be acquired by consortium of investors for US$94m

SOUTH AFRICA – Crossfin Technology Holdings, a fintech investment firm, has been acquired by a consortium of investors, including Patrice Motsepe’s African Rainbow Capital (ARC), for R1.5 billion (US$ 94.71m). The consortium is led by Ethos’s Mid-Market Fund I and includes the founding Crossfin executive management team, EMMF I co-investors Ethos Artificial Intelligence Fund I, and empowerment investor ARC. Fairview…

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IT solutions provider EOH agrees to sell its subsidiary Sybrin for US$24.7m to clear debt

SOUTH AFRICA – Business and IT solutions provider EOH Holdings, has announced the sale of its  subsidiary Sybrin for a cash consideration of US$24.7 million to pay down debt. The business, which currently sits under EOH Mthombo, is being bought by a black-controlled consortium called K2020893770 for cash. The consortium is made up of One Thousand & One Voices Management…

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IFC and IFC Financial Institutions Growth Fund invest in payments provider Adumo

SOUTH AFRICA – The International Finance Corporation (IFC), a member of the World Bank Group and the IFC Financial Institutions Growth Fund, have invested in Adumo, South Africa’s largest independent payment provider with a presence in 13 African countries. The investment consists of up to US$15 million in preferred shares to fund the growth of the company. The investment will support…

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