Nedbank has completed the acquisition of iKhokha, a South African fintech specialising in payments solutions for small and medium-sized enterprises, for a consideration of R1.65 billion — approximately USD 94 million at the exchange rate when the deal was announced in August 2025. All required regulatory approvals were received prior to closing, and iKhokha now operates as a wholly owned subsidiary of the Nedbank group. Nedbank said in its pre-close update that the acquisition had been effective since 1 December 2025.
Nedbank has identified the SME banking segment as a strategic growth area within its commercial and business banking franchise.
ABOUT IKHOKHA
iKhokha offers mobile-first card acceptance and payment-processing solutions to merchants and small businesses.