trending Market Intelligence /marketintelligence/en/news-insights/trending/MzVGI7078JrcEkRd-Z5RNw2 content esgSubNav
In This List

Standard Bank Namibia acquires 50.9% stake in local payments firm

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Using ESG Analysis to Support a Sustainable Future


Standard Bank Namibia acquires 50.9% stake in local payments firm

SBN Holdings Ltd., the holding company for Standard Bank Namibia Ltd., purchased a 50.9% stake in electronic payment solutions company MobiCash Payment Solutions (Pty) Ltd., or Mobipay, for 53.2 million Namibian dollars, The Namibian reported.

Under the deal, Standard Bank Namibia will take control of the payments firm's services.

The sale, which was completed in April, was stated in Standard Bank Namibia's first-half results. For the six months ended June 30, the lender booked an after-tax profit of 282 million Namibian dollars, a 10.6% yearly increase from 255 million Namibian dollars.

At the conclusion of the sale, Mobipay's goodwill was valued at 39 million Namibian dollars, while its net assets at acquisition were estimated at roughly 20 million dollars.

Standard Bank Group Ltd. is the ultimate parent of SBN Holdings and Standard Bank Namibia.

As of Sept. 9, US$1 was equivalent to 14.72 Namibian dollars.