Financial institution Ebury expands its reach into Africa through the acquisition of Prime Financial Markets, marking its entry into the continent.
Ebury, a leading global financial technology firm based in London, has made a significant move into Africa with the acquisition of Prime Financial Markets, a financial services company headquartered in Johannesburg, South Africa.
The acquisition marks Ebury's first foray into the African continent, and both companies have expressed ambition for strategic goals in the region. Ebury, specialising in FX and payments, offers financial solutions for SMEs and midcaps to trade internationally, while Prime Financial Markets has significant experience supporting customers with their financial market exposure.
Ebury's global scale, innovative technology, and bespoke customer service were highlighted as reasons for Prime Financial Markets joining Eury. Juan Lobato, Co-Founder and Co-CEO at Ebury, commented on the acquisition, saying, "We are excited to be entering Africa, a market with immense potential and growth opportunities. Prime Financial Markets' expertise and local knowledge will be invaluable as we embark on this journey."
Gert Delport, Managing Director at Prime Financial Markets, also commented, "Joining Ebury provides us with an opportunity to offer our clients a wider range of services and to expand our reach. We are looking forward to being part of Ebury's global growth."
Prime Financial Markets offers financial market advice and intermediary services in the treasury and financial market space. Their capabilities include treasury evaluation services, hedge execution services, systems offering, liquidity and covenant management, and treasury policy and risk integration advice. They are a registered Financial Services Provider.
As a result of the acquisition, Ebury is establishing a local office in South Africa. Ebury offers international payments and collections, foreign exchange in over 130 currencies, cash management strategy, trade finance, and foreign exchange risk management. With this acquisition, Ebury has further strengthened its position as a global leader in financial technology.
Ebury has experienced significant international growth, with over 1,700 employees operating from 38 offices in 23 countries. The company's annual transaction volumes exceed $27 billion, demonstrating its commitment to delivering high-quality financial solutions to businesses worldwide.
While there is no information available about the year Prime Financial Markets made a deal with Ebury, this acquisition is undoubtedly a significant step for both companies as they look to expand their operations and offerings in the African market.
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