In 2012, Optasia, an AI fintech company operating in 38 markets across Africa, the Middle East, and Asia, made its debut on the Johannesburg Stock Exchange. It was South Africa’s largest initial public offering (IPO) of that year.
The firm has now announced plans to expand into Asian and Latin American markets while deepening its presence in African regions. By leveraging artificial intelligence and advanced data analysis, Optasia evaluates creditworthiness and offers microloans and cash advances to individuals without access to traditional banking services. It collaborates with mobile operators like MTN Group and Vodacom to distribute its products via digital channels.
Expansion Strategies
Optasia intends to enhance its geographic reach, introduce new credit solutions such as virtual lending and buy now, pay later options, and possibly acquire companies in selected markets to support its regional growth strategy.
Morgan Stanley and Standard Bank were involved in the listing process, with Investec serving as the bookrunner. Analysts believe that Optasia’s public offering could inspire other tech-driven firms to list on African exchanges due to growing interest in AI and digital finance.
According to representatives from local investment firm 27four Investment Managers, the listing may help rejuvenate South Africa’s equity market, traditionally dominated by mining and banking sectors, and highlight the JSE’s capacity to host innovative, large-scale companies.
