FirstRand Limited,a South African multinational financial services group has announced an acquisition of 20.1% stake of Channel VAS Investments which trades as Optasia.
According to FirstRand,Optasia is one of the world's largest AI-powered fintech platforms providing financial access to people across emerging markets.
Since its inception in December 2012,Optasia revealed that has developed a network of distribution partners(including Mobile Network Operators) and financial institutions,enabling access to over 860 million mobile subscribers.As of 30 June 2025,Optasia operated through a network of 49 distribution partners and 13 financial institutions.With approximately 121 million monthly active users,the company processes over 32 million loan transactions per day.
The Group hinted that it will utilise Optasia's platform to unlock new markets for one of its banks which is underrepresented in other areas across South Africa.
"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,"said FirstRand in a statement.
The Group also clarified that the transaction is not a categorisation transaction in terms of the JSE Listings Requirements and is therefore a voluntary announcement.
FirstRand Limited owns brands such as First National Bank(FNB),Rand Merchant Bank(RMB),WesBank,Aldermore(UK),MotoNovo Finance(UK),Ashburton Investments,DirectAxis and MotoVantage.