The FirstRand Group has invested R4.7 billion for a 20.1% stake in multinational fintech company Optasia ahead of its planned Johannesburg Stock Exchange (JSE) listing. The investment, announced earlier this week, values Optasia at more than R20 billion and signals strong confidence in its artificial intelligence-driven credit-vetting model.

Optasia provides microloans in emerging markets through platforms such as MTN’s MoMo and Vodacom’s M-Pesa. The company plans to raise up to R1.3 billion in new capital and R5 billion through secondary share sales.

Shares are priced between R15.50 and R19 each, implying a potential valuation of R19.4 billion to R23.5 billion.

Trading is expected to start early next month. FirstRand CEO Mary Vilakazi said the deal aligns with the group’s strategy to expand digital credit access across Africa.