Nedbank Group has announced that it has entered into a binding agreement, on 12 August 2025, to acquire 100 of fintech innovator iKhokha Proprietary Limited iKhokha for a cash consideration of approximately R1.65bn subject to certain adjustments upon conclusion iKhokha transaction, a move that marks a significant milestone in Nedbanks strategy to deepen its support for small and medium-sized enterprises SMEs through digital innovation and inclusive financial services. The iKhokha transaction is subject to customary regulatory approvals and is expected to conclude in the coming months. The acquisition of iKhokha will strengthen and scale Nedbanks positioning in the SME market.
The acquisition will result in iKhokha becoming a wholly owned subsidiary of Nedbank, while continuing to operate under its own brand and leadership team. The acquisition includes a comprehensive management lock-in to ensure managerial continuity and alignment with long-term growth objectives.
We believe that empowering entrepreneurs is essential to building a thriving and inclusive economy. iKhokhas 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.
