Fintech startup SA Ukheshe changes name to EFT Corporation

South African fintech startup Ukheshe has been rebranded as EFT Corporation, following its acquisition of the company of the same name in January, a move the company says will help position it as a “financial inclusion catalyst” on the continent.

Ukheshe is a leading fintech partner, with a legacy of providing integrated finance business platforms. It has created a wide range of microservices that enable rapid digital transaction proposals for customers.

In January, the company acquired EFT Corporation, a 23-year-old digital payments company operating in 35 African countries, from its parent company Loita Transaction Services (LXS), and has now rebranded under that name.

Ukheshe said the rebranding will unite its digital solutions with EFT Corporation’s reach under one unified identity.

“This rebranding marks the beginning of a new era of growth and possibility for us as EFT Corporation. We look forward to facilitating a seamless and interconnected digital payments landscape that enables banks and individuals to thrive in the digital economy,” said CEO Clayton Hayward.

“A fully digital, always-on, always-instant money transfer and payments ecosystem is inevitable. Regulators and banks have a lot to lose if this continues to be pushed into cryptocurrency and mobile money tracks outside of traditional financial services providers. To compete and maintain a higher position, banks must innovate faster and collaborate more.”

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