The Competition Commission of South Africa CCSA has approved Nedbank Group Limited's acquisition of iKhokha Pty Ltd, clearing the way for one of South Africa's largest banks to expand further into the fast-growing financial technology space.
The transaction was approved without conditions, with the Commission concluding that it is unlikely to substantially lessen or prevent competition in any market and does not raise significant public interest concerns.
Nedbank, a publicly listed company on the Johannesburg Stock Exchange JSE, operates through several subsidiaries and provides wholesale and retail banking, insurance, asset management, and wealth management services.
