Deals
AZA Buys Exchange4Free to Become Biggest Africa Non-Bank FX Firm
- Acquisition more than doubles AZA’s annual transaction value
- AZA says its services boost trade between African countries
This article is for subscribers only.
AZA Finance said it has agreed to buy South Africa’s Exchange4Free Ltd. to become the biggest non-bank provider of currency exchange and treasury services in Africa.
The acquisition of Exchange4Free will more than double the value of AZA’s annual value of online transactions to more than $2.5 billion and will give it an entry into South Africa, the most developed country on the continent, the company said in a statement on Wednesday. That will extend AZA’s services to more than 115 countries. The value of the purchase wasn’t disclosed.