Direct Pay Online Group Acquires 100% Stake in Setcom Limited

By Juma Fred / December 11, 2017




Direct Pay Online Group (DPO), a Kenyan internet payments firm, has acquired 100.0 percent stake of Setcom Ltd, a fintech company that operates instant electronic funds transfer (EFT) solutions in South Africa, for an undisclosed amount.

The deal follows two other acquisitions by DPO this year, of Virtual Card Services and Pay thru South Africa, both providing online payment services.

DPO currently operates in 12 African countries, including Kenya, Tanzania, Uganda and South Africa and has acquired firms in Namibia and Botswana, with further plans to expand into countries such as Nigeria, Ghana, DRC, and Mozambique.

The deal affirms DPO’s strategy to be the leading online payment solution in Africa and is supported by the investment made into the firm by Apis Partners, a London based private equity firm. In November this year, Apis injected funding of USD 5.0 million (519.0 million shillings) into DPO, funds that the firm mentioned would be used for expansion of operations and upgrade of its online systems.

The continued interest by investors in technology-driven companies in Sub-Sahara Africa is catalyzed by the rising need for technology products as more businesses seek to enhance efficiency and reduce costs.

Vivo Energy

Vivo Energy Holding B.V. has entered into a share swap agreement with Engen Holdings Proprietary (Pty) Limited, a subsidiary of Engen Limited.

The transaction will see Vivo Energy Holdings purchase shares in Engen Holdings in exchange for an undisclosed shareholding in Vivo Energy with a possible cash consideration. Consequently, Vivo Energy will include additional 271 service stations across 9 new countries, and in Kenya, where Vivo Energy already operates.

Both entities will maintain their brands. In Kenya, Vivo Energy will acquire 17 of Engen’s service stations bringing their total service stations to 140, 36 stations short of the largest oil distributor, Total Kenya.

In Kenya, Vivo has the second largest Kenyan market in both petroleum and lubricant sales, with 16% and 35% share, respectively, after Total, which has 18% and 40% share, respectively. Vivo Energy, which is jointly owned by Vitol and Helios Investments, each owning 60% and 40% stake, respectively, took over Shell stations in Africa earlier this year after Shell pulled out of Africa’s oil retailing business.

Source: Cytonn Investments Limited report.



About Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: [email protected]ry.com

View other posts by Juma Fred


More Articles From This Author







Other Related Articles








SOKO DIRECTORY & FINANCIAL GUIDE

ARCHIVES

2018
  • January 2018 (291)
  • February 2018 (220)
  • March 2018 (279)
  • April 2018 (226)
  • May 2018 (240)
  • June 2018 (58)
  • 2017
  • January 2017 (183)
  • February 2017 (195)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (206)
  • July 2017 (190)
  • August 2017 (196)
  • September 2017 (186)
  • October 2017 (236)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (167)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (246)
  • June 2016 (183)
  • July 2016 (271)
  • August 2016 (250)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (244)
  • December 2016 (154)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (109)
  • May 2015 (117)
  • June 2015 (121)
  • July 2015 (150)
  • August 2015 (157)
  • September 2015 (189)
  • October 2015 (171)
  • November 2015 (174)
  • December 2015 (208)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950