Johnanesburg Stock Exchange (JSE)-listed firm Vunani has acquired a 50% stake in South African financial services company Verso Group for an undisclosed sum.
The deal is in line with Vunani’s strategy to expand its financial services operation, particularly in niche markets, both in South Africa and across the continent with a current focus on the South African Development Community countries.
Verso is a financial services group of companies rendering financial services through various authorised financial services providers. It comprises of Verso Health, Verso Wealth, Verso Money Brokers and Verso Funds Administrator.
It has offices and representatives in Pretoria, Johannesburg, Gqeberha and East London.
Vunani said in a JSE statement: “Verso is an established brand with a proven track record. The transaction has a strategic fit with existing Vunani businesses.
“Verso’s executive team is highly experienced and skilled. Verso has built an in-house technology platform to enhance its fund administration capability. Owning the intellectual property to this system offers the potential to add value added offerings to Vunani’s clients.
“Verso can take advantage of Vunani’s financial services platform to scale its current business and add additional revenue streams.”
