FirstRand boosts Optasia stake with $86.3 million purchase

FirstRand Ltd., a leading financial services group has raised its holding in Optasia, buying an additional 6% stake for about R1.48 billion ($86.3 million), according to a regulatory filing. 

Optasia said in a Sens notice on Thursday that the deal lifts FirstRand’s shareholding to 26.1%, strengthening ties between the lender and the fast-growing fintech. 

The shares were bought from an entity linked to Optasia founder and non-executive director Bassim Haidar. In a separate statement, the company said FirstRand acquired 74.1 million shares at R20 ($1.16) each. 

The transaction follows FirstRand’s earlier move in October 2025, when it took a 20.1% stake ahead of Optasia’s listing on the Johannesburg Stock Exchange.

Optasia CEO flags strong 2025 growth

Optasia Chief Executive Salvador Anglada said the increased investment points to continued backing from its banking partner after a strong 2025. 

“The results for the year show the business is well placed to serve a large and underserved market,” he said. “We remain focused on growing in a measured way while maintaining responsible lending practices.” 

The company, which listed in November 2025, offers small loans and airtime advances through mobile networks and digital platforms. Its services are aimed at consumers who often lack access to traditional banking. 

Optasia operates in 38 countries and handles more than 34 million transactions a day, underscoring the scale of its reach across emerging markets.

FirstRand becomes major shareholder

Optasia said the shares were sold by Zoey Enterprises, an associate of Haidar. The deal is expected to settle on or about March 30, 2026. 

Following the sale, Haidar’s indirect stake falls to about 1.5%, while FirstRand becomes one of the company’s largest shareholders. 

The exchange’s joint bookrunners agreed to waive certain lock-up conditions tied to the listing, allowing the transaction to go ahead.

Optasia revenue jumps 76% in 2025

FirstRand has said its investment supports plans to grow its presence in digital lending, especially in markets where access to credit remains limited. 

Optasia’s platform uses data from mobile usage and other sources to assess borrowers and extend small loans quickly. That capability could complement the bank’s existing channels and support entry into new regions. 

Since its listing, Optasia has drawn interest from investors tracking fintech firms with exposure to emerging markets. The company reported revenue of $265 million in 2025, up 76% from a year earlier, alongside gains in earnings and customer numbers. 

Haidar founded Optasia in 2012 and led the company as chief executive for nearly a decade. FirstRand, established in 1977, operates brands including FNB, RMB and WesBank, with operations across Africa, the UK and India.