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South African fintech Ukheshe rebrands to EFT Corporation

By , Africa editor
Africa , 18 Jun 2024
Clayton Hayward, Group CEO of the merged companies.
Clayton Hayward, Group CEO of the merged companies.

South Africa-based fintech Ukheshe is rebranding as EFT Corporation, which the company says will help to position it as a “financial inclusion catalyst” on the continent.

Ukheshe's rebranding to EFT Corporation follows its acquisition of EFT Corporation in January 2024.

The company, which unveiled its new brand today, has stated that the move will combine Ukheshe's digital solutions with EFT Corporation's reach under a single unified identity.

EFT Corporation, a 23-year-old digital payments firm operates in 35 African nations, serves over 100 bank processors, and is known for its core switching expertise and issuer processor technology. 

Meanwhile, Ukheshe provides a suite of end-to-end digital services to help banks digitise.

The parties say the brand colour will shift from Ukheshe’s bold orange to EFT Corporation’s established blue.

“This colour shift reflects the company’s dedication to creating a secure and reliable financial ecosystem. The merged entity will continue to operate under the name EFT Corporation Limited,” the statement reads.

Further, the statement says with the rebranding, EFT Corporation is set to enhance its market presence and reaffirm its commitment to driving financial inclusion in key African markets.

It says: “The new brand identity, encapsulated in the tagline ‘Together we are stronger. Together we are Banking Beyond Tomorrow’, highlights the company’s mission of playing a leading role in the future of digital payments.”

Clayton Hayward, Group CEO of the merged companies, says: “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.”

He went on to say: “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.”

Stephen Enderby, founder and CEO of EFT Corporation, adds: “Under one identity, we can deliver even greater value to our clients and push the boundaries of what’s possible in the industry.

Looking ahead, EFT Corporation believes it is well-positioned to capitalise on the opportunities in the financial sector. The company says it technological infrastructure, combined with its deep market insights, will enable it to navigate the dynamic landscape of financial services effectively.

Also, EFT Corporation says it is committed to expanding its footprint across Africa and beyond, driving growth through continuous innovation and strategic partnerships.

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