Kazi Capital acquires stake in South African payments solutions company
Kazi Capital acquires stake in South African payments solutions company
The Kazi BBGF Fund, managed by Kazi Capital, has acquired a 40% stake in Figment.
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The Kazi BBGF Fund, managed by Kazi Capital, has acquired a 40% stake in South African payments solutions technology company Figment.
Founded in 1996, Figment is a payments solutions technology company that provides customised payment solutions (i.e. point of sale systems), value-added services (such as vouchers, prepaid gifts, mobile app integration) as well as loyalty systems in the South African fuel and retail market.
“Kazi Capital is excited to partner with the highly innovative and dynamic Figment management team, who have built a very solid and strong technological foundation that will propel the company’s future growth and success in the fintech industry. As a 100% black-women owned private equity investor, we are well placed to advance Figment’s transformation objectives in a meaningful way, more especially in a ‘new economy’ industry that has limited representation of women in general and black-women in particular,” says Buyisiwe Makhunga, Kazi Capital’s managing executive.
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