Ukheshe Officially Rebrands as EFT Corporation Amid Pan-African Expansion Drive
What’s this about?
- Ukheshe has rebranded to EFT Corporation to consolidate its digital solutions and expand its presence across Africa and beyond.
- The rebrand follows Ukheshe’s acquisition of EFT Corporation and aims to drive growth through innovation and strategic partnerships, with a focus on financial inclusion.
- EFT Corporation’s new identity, symbolized by a shift from orange to blue, represents trust and stability, and the company is committed to enhancing digital payment systems and customer experiences in key African markets
Zoom in…
Ukheshe has officially rebranded to EFT Corporation in a move to consolidate its pioneering digital solutions and expand across Africa and beyond.
Ukheshe’s Eclipse API platform enables the development and growth of financial service offerings across Africa and the Middle East. Eclipse exemplifies how Banking-as-a-Service (BaaS) can serve as a mechanism for closing the financial inclusion gap, offering businesses innovative ways to seamlessly integrate financial services.
The transition from Ukheshe’s bold orange to EFT Corporation’s established blue is symbolic of trust, stability, and forward-thinking innovation. This colour shift reflects the company’s dedication to creating a secure and reliable financial ecosystem.
Context
EFT Corporation was acquired by Ukheshe in January 2024 and the new entity will continue to operate under the name EFT Corporation Limited to drive growth through continuous innovation and strategic partnerships.
Since its inception, Ukheshe has onboarded numerous fintechs and major brands, proudly introducing Africa’s first virtual card for WhatsApp transactions, enabling Telkom Pay’s digital payments wallet alongside development of their merchant solution, Telkom mPOS, a mobile POS solution for small businesses.
In 2020, Ukheshe strategically acquired Oltio, the developer behind Masterpass, to democratise digital payments for micro-merchants, evolving the brand to Scan to Pay in 2023. Extending into Africa, Ukheshe provides an innovative BaaS platform in East Africa, through its partnership Diamond Trust Bank (DTB) and empowers users to send money across Africa through MTN’s cross-border money transfer solution.
What they’re saying…
According to Clayton Hayward, Group CEO of the merged companies: “We are incredibly proud of all Ukheshe has achieved. 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.”
“Under one identity, we can deliver even greater value to our clients and push the boundaries of what’s possible in the industry,” said Stephen Enderby, Founder and CEO of EFT Corporation. “EFT Corporation’s products and expertise help to make banking innovation simpler. We are excited to continue empowering our customers to create exceptional user experiences and provide innovative, reliable, and comprehensive payment solutions that integrate, automate, and optimise financial systems and operations across all sectors of the economy.”
The Big Picture
With the rebranding, EFT Corporation is set to enhance its market presence and reaffirm its commitment to driving financial inclusion in key African markets. The new brand identity, encapsulated in the tagline ‘Together we are stronger. Together we are Banking Beyond Tomorrow’, highlights the company’s mission of playing a leading role in the future of digital payments.
EFT Corporation’s inaugural ‘Banking on the Future’ conference in May brought together industry leaders, innovators, and stakeholders to discuss and shape the future of fintech in Africa. Serving as a platform for exchanging ideas and exploring the opportunities and challenges facing the fintech industry, EFT Corporation is driving forward its vision for a digital-first financial ecosystem that empowers businesses and individuals alike.
The group also aims to drive innovation and improve customer experience by developing and deploying technologies such as digital wallets and mobile payments to advanced financial services and switching solutions to address the evolving needs of the market.
Source: techmoran.com
