FirstRand ups stake in Optasia in R1.5-billion deal

Banking group FirstRand has increased its shareholding in JSE-listed fintech Optasia to 26.1% after acquiring an additional 6% stake in a deal worth about R1.48-billion.

The banking group purchased 74.1 million ordinary shares at R20 each on 25 March from an entity owned by Bassim Haidar, Optasia’s founder and non-executive director. The transaction follows FirstRand’s initial strategic investment in October 2025, when it acquired a 20.1% stake in the AI-powered financial infrastructure platform ahead of its listing on the JSE.

Following the sale, Haidar now holds an aggregate indirect shareholding of 1.5% in Optasia, down significantly from his position prior to the IPO. He remains on the company’s board and continues to support its strategic direction.

Optasia CEO Salvador Anglada said FirstRand’s decision to increase its investment reflected confidence in the company’s growth trajectory.

“The exceptional performance reported for full year 2025 demonstrates how well positioned Optasia is to address the substantial market opportunity and advance its strategic pursuit of disciplined, responsible scaling to create long-term sustainable value for all stakeholders,” said Anglada.

The increased investment comes as Optasia pivots aggressively beyond its traditional airtime advance business into formal banking.

‘Massive opportunity’

Speaking to TechCentral at the opening of Optasia’s new Johannesburg offices on Tuesday, Anglada said the company sees the formal banking sector as a “massive opportunity” for growth as its microfinancing business continues to overtake airtime advances as a revenue driver.

Anglada told TechCentral that the AI-powered credit-vetting algorithms Optasia developed for mobile wallet transactions can be applied directly to the formal banking sector, helping banks increase total loans while lowering default rates in specific customer segments.

Read: Optasia wants to do for banks what it did for telcos

Optasia, which listed on the JSE in 2025, operates across emerging markets, providing AI-driven financial services to underbanked populations. FirstRand’s growing stake positions the banking group as a significant strategic shareholder in one of the JSE’s newer technology-focused listings.  – (c) 2026 NewsCentral Media