South African fintech startup Ukheshe has officially rebranded as EFT Corporation. This change follows their acquisition of the original EFT Corporation back in January. The move aims to position the company as a key player in promoting financial inclusion across Africa.
Ukheshe, known for its expertise in creating digital finance platforms, has a strong track record in providing embedded financial services. The company has developed a wide array of micro-services that enable quick and efficient digital transactions for its clients.
In January, Ukheshe acquired EFT Corporation, a 23-year-old digital payments company operating in 35 African countries, from its parent company, Loita Transaction Services (LXS). The rebrand to EFT Corporation now unifies their offerings under one name.
CEO Clayton Hayward expressed excitement about the rebrand, stating, “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,”
Hayward emphasised the importance of digital innovation for banks, noting, “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.”
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