Nedbank announced on 13 August 2025 that it had agreed to acquire iKhokha, a South African fintech focused on card payment acceptance and working capital products for small and medium-sized enterprises, in an all-cash transaction valued at R1.65 billion, equivalent to approximately $93 million to $94 million at prevailing exchange rates. The announcement was published on Nedbank Group's press and insights page.
iKhokha provides card machines, digital payment acceptance infrastructure, and working capital finance to small and medium-sized businesses across South Africa. The company has built a merchant-facing proposition that combines physical point-of-sale hardware with software, data analytics, and embedded financing products.
DEAL STRUCTURE
Under the terms of the deal, iKhokha will operate as a wholly owned subsidiary of Nedbank while retaining both its brand identity and its existing management team.
The announcement confirms that the transaction had been agreed as of 13 August 2025, with the parties working towards satisfaction of the customary conditions required to bring the deal to completion.