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Altech acquires Eyenza Mobile Money

JSE listed Allied Technologies Limited (Altech) today announced the acquisition of 100% of the equity in Eyenza Mobile Money (Pty) Ltd (Eyenza). The acquisition follows the completion of a satisfactory due diligence of Eyenza by Altech and approval by the board of Altech. Eyenza Mobile Money is a wallet based system whereby a deposit is made into a central pool account after the user has registered and a wallet is created and linked to the users MSISDN number. The user can then transact to the value of the deposit (funds in their wallet). Commenting on the acquisition, Altech CEO Craig Venter had the

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