SOUTH AFRICA – Ukheshe, a fintech company, has announced that it is rebranding to EFT Corporation to position itself as a financial inclusion catalyst on the continent.
The company unveiled its new brand and said it would combine Ukheshe’s digital solutions with EFT Corporation’s reach under a unified identity.
Ukheshe’s rebranding to EFT Corporation follows its acquisition of 100% of EFT Corporation (EFTCorp) from parent company Loita Transaction Services, a pan-African payment solutions provider, in January 2024.
EFTCorp is a 23-year-old digital payments firm that operates in 35 African markets and supports over 100 banks and processors. It services retail and financial clients across the continent and represents seven industry-leading international partners.
Ukheshe International is headquartered in the UK, with roots in SA through its subsidiary, Ukheshe Technologies.
The company’s offerings encompass a range of end-to-end digital services that assist in digitizing banking partners.
The parties say the brand color will shift from Ukheshe’s bold orange to EFT Corporation’s established blue.
“This color 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, which 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.”
“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. Banks must innovate faster and partner more to compete and keep the higher ground.”
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 capitalize on the opportunities in the financial sector. The company says its technological infrastructure and 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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