Artificial intelligence-powered fintech firm Optasia plans to raise R6.3 billion ($365 million) through a combination of public and private share sales in South Africa to fund acquisitions amid surging global demand for digital financial services.
The Dubai-based company, founded by Nigerian-born Lebanese entrepreneur Bassim Haidar, will raise R1.3 billion via an initial public offering (IPO) on the Johannesburg Stock Exchange (JSE), while its founders will sell R5 billion worth of shares in a private placement.
According to a regulatory filing on Wednesday, Morgan Stanley and Standard Bank Group are advising on the listing, with Investec serving as bookrunner.
Riding South Africa’s Market Momentum
Optasia’s move comes as South Africa’s benchmark FTSE/JSE Africa All Share Index has climbed nearly 30% this year, buoyed by investor enthusiasm for AI-linked stocks. The index slipped 0.4% on Tuesday, following a record high the previous day.
Last year, Boxer Retail raised more than R8 billion in South Africa’s largest IPO since 2017 — a sign of renewed confidence in the local capital market.
Expanding Access to Digital Finance
Founded in 2012, Optasia operates in 38 countries across Africa, the Middle East, and Asia, offering AI-driven credit scoring, microloans, and cash advances to underbanked customers through telecom partners such as MTN Group and Vodacom Group.
By analyzing over 5,000 data points, the company’s AI platform assesses creditworthiness in seconds, enabling faster, lower-cost lending. Optasia also works with Standard Bank and Ecobank Transnational to facilitate loan disbursements.
The company’s technology currently processes more than 32 million near-instant credit decisions daily, with 121 million active users. To date, it has extended over $20 billion in small loans and credit facilities — roughly $380 million a month — with South Africa and Nigeria among its largest markets.
Targeting the Global Unbanked Market
According to the Global Findex 2025 survey, 1.3 billion adults worldwide remain unbanked, largely due to income constraints, distance from financial institutions, and high transaction fees. More than half of this population resides in Nigeria, China, Egypt, and India, representing a massive opportunity for fintech innovation.
By leveraging AI and mobile connectivity, Optasia aims to close this financial inclusion gap and position itself as a leading provider of accessible digital finance solutions in emerging markets.
