Technology-driven microfinancing firm Optasia has announced plans to list on the Johannesburg Stock Exchange (JSE), aiming to raise approximately R1.3-billion through a primary share issuance to fuel its expansion and acquisition strategy across Africa, the Middle East, and Asia.
Speaking to TechCentral on Wednesday, CEO Salvador Anglada said the listing marks a key step in the company’s mission to deepen financial inclusion in emerging markets through alternative financing solutions. Among its notable backers is former FNB CEO Michael Jordaan, who serves as Optasia’s chairman.
“Africa and Asia are growing quickly,” Anglada said. “In Africa, mobile wallets are becoming the main gateway to financial services. Population growth, GDP expansion, and the rise of mobile money are creating strong tailwinds for our business.”
Optasia’s AI-powered platform uses advanced algorithms to assess creditworthiness in regions where traditional financial data is scarce. By connecting directly to mobile operators and digital wallet providers, such as MTN’s MoMo and Vodacom’s M-Pesa, the company can analyze user data to determine credit limits and default risks.
Loans are disbursed through Optasia’s network of licensed financial institutions, while the company itself underwrites the risk of default. Borrowers are charged only a service fee, not interest, and typically repay within 30 days. The average loan size is about US$5, though some reach up to US$50, with roughly 30% of borrowers being small business owners who use the funds to support operations.
Beyond microloans, Optasia also offers products such as airtime advances and mobile wallet overdrafts, leveraging partner banks’ balance sheets to remain compliant with local licensing requirements.
While Optasia operates in London and Dubai, Anglada said Johannesburg was chosen for the listing because of the JSE’s reputation as a robust emerging markets exchange with strong governance and global investor access.
“The JSE offers both liquidity and credibility. It’s a natural fit for a company like ours that’s built around emerging markets,” he explained.
Optasia’s leadership reflects its global footprint, featuring seven nationalities at board level and 25 across the organization. Alongside Jordaan, the board includes Bank Zero co-founder Lezanne Human as an independent non-executive director.
In addition to the R1.3-billion primary issuance, existing private shareholders plan to sell R5-billion in secondary shares — proceeds from which will not go to the company itself.
The listing remains subject to regulatory approval. “Today marks a major milestone for Optasia,” Anglada concluded. “From a single-country operation to one of the world’s largest fintechs of its kind, we’ve built a profitable, capital-light business that’s ready to scale even further.”
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