• Ukheshe has announced it will be adopting EFT Corporation’s name and branding in a bid to push forward in the fintech space.
• Ukheshe acquired EFT Corporation earlier this year.
• Under the unified banner customers can expect the same level of service and product functionality.

At the beginning of 2024 local fintech player Ukheshe acquired EFT Corporation and now Ukheshe is wholly adopting EFT Corporation’s branding.

The move comes as Ukheshe aims to unify the brand and its solutions under the banner of EFT Corp and continue to innovate and tailor financial solutions to the African continent.

“We are incredibly proud of all Ukheshe has achieved. This rebrand marks the beginning of a new era of growth and possibilities for us as EFT Corporation. We look forward to facilitating a seamless and interconnected digital payment landscape that empowers banks and individuals to thrive in the digital economy,” said Clayton Hayward, group chief executive officer of the newly merged entity.

While it’s name may be changing, Ukheshe has worked hard to make a name for itself in the local fintech space. The firm was the first to introduce a virtual card for WhatsApp transactions, it acquired Oltio, the developer behind Masterpass and launched Scan to Pay in 2023.

The firm also has its Eclipse API which is used across multiple regions to shrink the financial inclusion gap.

“A completely digital, always-on, always-instant money transfer and payments ecosystem is inevitable. Regulators and banks have a huge amount to lose if this continues to be pushed onto crypto and mobile money rails outside of traditional financial services providers. To compete and keep the higher ground, banks need to innovate faster and partner more. EFT Corporation is the partner with the digital know-how and the track record to deliver,” continues Hayward.

The new company will move away from Ukheshe’s bright orange colouring and instead adopt a blue colouring to symbolise trust, stability, and forward thinking innovation. The firm will also adopt a new tagline in “Together we are stronger. Together we are Banking Beyond Tomorrow” to push across its vision of being a leader in digital payments.

“Under one identity, we can deliver even greater value to our clients and push the boundaries of what’s possible in the industry. EFT Corporation’s products and expertise help to make banking innovation simpler. We are excited to continue empowering our customers to create exceptional user experiences and provide innovative, reliable, and comprehensive payment solutions that integrate, automate, and optimise financial systems and operations across all sectors of the economy,” founder and CEO of EFT Corporation, Stephen Enderby said of the merge.

It’s not clear when the transition to EFT Corporation will be complete but if you use Ukheshe’s services, take note that the name and branding are going to change at some point. Hopefully the service and experience don’t change too much