MyBucks sells 45% stake in MyBucks Zambia for US$2.7-million

MyBucks S.A. has sold its 45% stake in MyBucks Zambia to Xtenda for US$2.7-million, subject to approval by the regulators in Zambia. MyBucks Zambia is a fintech company that provides micro-loans to consumers using mobile, digital and financial technology. MyBucks S.A. is a fintech group with headquarters in Luxembourg that provides financial services through technology. MyBucks operates 4 banks in Africa and offers credit, banking solutions and insurance products to customers.

Xtenda Financial Holdings is a Mauritius based financial services company that established its operations in 2015. The group has operating subsidiaries in Mozambique, Tanzania and Zambia. The majority shareholder in Xtenda Financial Holdings is DBF Capital Partners which is a Mauritius based investment holding company with experience in Africa and other international markets.

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