Actis Buys African Payments Business for US$95 Million (Sub-Saharan Africa)

Source: Actis

Pan-emerging markets private equity firm Actis will acquire a 100 percent stake in Paycorp, a South Africa-based payments business, together with the company’s management team for US$95 million. Actis and the management will purchase the stake from financial services group Transaction Capital, which bought the company in 2006. Paycorp is a non-bank card issuer and ATM company, operating nearly 5,000 ATMs across Southern Africa.