Ebury Establishes Presence in Africa with Acquisition of Prime Financial Markets

Ebury, a fintech company specialised in international payments, collections, and Forex services, announced Tuesday that it has acquired Prime Financial Markets, a financial services firm based in Johannesburg, South Africa, marking Ebury's entrance into Africa for the first time.

Prime Financial Markets is a registered Financial Services Provider with over 50 years of combined financial markets experience, providing financial market advice and intermediary services in the treasury or financial market space.

"We're delighted Prime Financial Markets are joining the Ebury family. Its complimentary suite of services is a natural fit with our global capabilities and the transaction enables us to establish a new geographic presence at the heart of Africa's financial services market," said Juan Lobato, Co-Founder and Co-CEO at Ebury. "International expansion is key to our strategy and this acquisition further strengthens both our platform for growth and our ability to provide a market-leading service to clients."

"Ebury's global scale, innovative technology and bespoke customer service makes them a natural partner for our business," added Gert Delport, Managing Director at Prime Financial Markets. "It is a hugely ambitious business and we look forward to achieving those lofty strategic goals together particularly in Africa, our geography of expertise."

In addition to entering the African market, the fintech firm last month announced its strategic move of expanding its operations into Chile. 

Duarte Líbano Monteiro, Head of LATAM (excluding Brazil) and Regional Director for Southern Europe at Ebury, explained: "Our global expansion strategy to Chile reflects our long-standing commitment to strengthen our presence across Latin America. The economic characteristics of Chile, such as an open economy, a global business sector and an expanding market, played a pivotal role when deciding our move to progressively introduce our offerings in the Latin American market."