The Competition Commission has given Nedbank the green light to purchase the fintech company iKhokha.
The commission recommended that the Competition Tribunal approve the deal without any conditions.
NEDBANK ACQUIRES IKHOKHA IN R1.64 BILLION DEAL
Nedbank is one of South Africa’s biggest banks and is listed on the Johannesburg Stock Exchange (JSE).
It announced its acquisition of the fintech firm on 13 August 2025.
The two companies entered a binding agreement allowing Nedbank to acquire 100% of iKhokha.
According to Nedbank’s statement, the all-cash deal is worth approximately R1.64 billion.
The bank described this move as part of its broader strategy to deepen support for small and medium-sized businesses across the country.
“We believe that empowering entrepreneurs is essential to building a thriving and inclusive economy,” said Nedbank’s Chief Executive, Jason Quinn.
“iKhokha’s mission and technology align perfectly with our vision for digital transformation in the SME sector. Together, we will unlock new opportunities for growth and financial inclusion in South Africa and potentially abroad,” he further added.
However, the two entities were awaiting regulatory approval from the Competition Commission and the Competition Tribunal before finalising the transaction.
IKHOKHA PROFILE
iKhokha is a South African financial technology (fintech) firm that focuses on helping small, medium, and micro enterprises (SMMEs).
Matt Putman, Ramsay Daly, and Clive Putman founded the business.
Most South Africans may recognise the company for providing point-of-sale and digital payment solutions to small and medium businesses.
Its services include card payment tools, cash advances, accounting software, and business insurance.
Under the acquisition, iKhokha will become a subsidiary of Nedbank.
Additionally, it will continue to operate under its own brand and leadership team.
WHY DID THE COMPETITION COMMISSION GIVE THE GREEN LIGHT?
The acquisition aims to help both companies reach more small businesses.
Moreover, it aims to make digital payments easier and more accessible, especially for emerging entrepreneurs.
After reviewing the deal, the Competition Commission found that it is unlikely to reduce competition or give Nedbank an unfair advantage.
The commission said it found no major public interest issues.
Furthermore, it also expects the deal to have no negative impact on jobs or small businesses.
WHAT HAPPENS NEXT FOR NEDBANK AND IKHOKHA?
If the Competition Tribunal agrees with the recommendation, the deal will move forward as planned.
This move will mark another step in how banks and fintech companies are joining forces to strengthen South Africa’s digital economy and support entrepreneurial growth.
Nedbank’s acquisition of iKhokha could set a new standard for collaboration between traditional banking and modern fintech innovation in the country.
