Also: African Rainbow Capital and Ethos Private Equity invest R200 million into TymeBank.
Naspers's PayU agreed to buy Turkish digital payments company Iyzico for $165 million (R2.4 billion) in its biggest fintech acquisition so far. The deal will expand the Dutch unit’s exposure to Turkey’s e-commerce market, which is growing at more than 10 percent a year.
Read more: Naspers buys PayU for $165 million
Patrice Motsepe’s African Rainbow Capital (ARC) and Ethos Private Equity have jointly announced an investment of R200 million by the Ethos Artificial Intelligence (AI) Fund into new digital bank TymeBank.
In a separate transaction, ARC will invest R100 million into Ethos AI Fund. ARC said that TymeBank will now embark on the next phase of capital raising to facilitate the growth of the bank.
Travelstart has agreed to acquire 100 percent of the Club Travel Group, a deal that is set to continue the former’s growth trajectory in the African continent.
Read more: Travelstart to acquire Club Travel Group
Siemens Digital Industries Software has signed an agreement to acquire assets of ESTEQ.
“Through the acquisition of ESTEQ, Siemens Digital Industries Software will now have a direct presence in the South Africa market which will enable Siemens to expand and enhance how we support and service our customers across the region,” said Edwin Severijn (pictured), the Senior Vice President of Siemens Digital Industries Software for Europe Middle East and Africa.