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    Capitec to acquire 40% stake in Creamfinance for €21m

    Banking group Capitec announced on Friday that it is to acquire a 40% interest in international online lending group Creamfinance for €21m.
    Source: Capitec
    Source: Capitec

    Creamfinance is registered in Cyprus and the group provides online consumer loan products in a number of countries, including Poland, Latvia, Georgia, the Czech Republic, Mexico and Denmark.

    Capitec said its business model, sophisticated technology and advanced credit scoring methods aligned with its own business model, as well as supported its long-term digital strategy.

    "We believe that Creamfinance will provide Capitec's management with the opportunity to gain experience in entering and operating in foreign countries, more specifically advancing credit in the international and online environment and to work with a foreign partner to manage an international business," Capitec said.

    Source: BDpro

    Source: I-Net Bridge

    For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

    We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

    Go to: http://www.inet.co.za
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