Microfinance entity Xtenda Finance Ltd to acquire 45% stake in MyBucks Zambia for US$2.7m

ZAMBIA – Fintech company MyBucks Group has entered into an agreement with Xtenda Finance Limited, a Zambia microfinance entity founded by former BancABC Group executives for the sale of 45 percent of its Zambian subsidiary for US$2.7 million after Dr Rajan Mahtani, an indirect shareholder reportedly failed to meet the deadline for payment of a call option. Xtenda is owned by DBF Capital Partners and other shareholders. The deal would give Xtenda, 100 percent shareholding in MyBucks Zambia after an earlier agreement which was entered into in June 2020 to…

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