South Africa, July 22 -- The proposed transaction will see Pepkor acquire a controlling 57.1% stake in the newly combined fintech platform (FintechCo), creating a business with an annual transaction throughput exceeding R200bn and an implied equity valuation of approximately R21.3bn.

The deal represents one of the most significant fintech transactions in South Africa's retail sector, strengthening Pepkor's ambitions to build an integrated digital financial services ecosystem while deepening its presence in the country's informal economy.

Building a fintech powerhouse

The combination brings together two complementary businesses serving South Africa's informal retail sector.

Shop2Shop has built an extensive merchant and payment network,...