South African fintech startup Ukheshe has rebranded as EFT Corporation, following its acquisition of the company of the same name back in January, a move the company says will help position it as a “financial inclusion catalyst” on the continent.
Ukheshe is a leading fintech enablement partner, with a legacy in enterprise platform delivery of embedded finance. It has created an extensive range of micro-services that enable rapid digital transaction propositions for clients.
In January, the company acquired EFT Corporation, a 23-year-old digital payments firm active in 35 African nations, from its parent company Loita Transaction Services (LXS), and it has now rebranded to that name.
Ukheshe said the rebrand would combine its digital solutions with EFT Corporation’s reach under a single unified identity.
“This rebrand marks the beginning of a new era of growth and possibilities for us as EFT Corporation. We look forward to facilitating a seamless and interconnected digital payment landscape that empowers banks and individuals to thrive in the digital economy,” said CEO Clayton Hayward.
“A completely digital, always-on, always-instant money transfer and payments ecosystem is inevitable. Regulators and banks have a huge amount to lose if this continues to be pushed onto crypto and mobile money rails outside of traditional financial services providers. To compete and keep the higher ground, banks need to innovate faster and partner more.”
