Ebury enters Africa via acquisition of Johannesburg-based Prime Financial Markets
The acquisition reflects Ebury’s rapid international growth driven by increasing demand for its services as the FX and payments company now boasts over 1,700 employees across 38 offices in 23 countries, handling annual transaction volumes exceeding $27 billion.
Ebury has acquired Prime Financial Markets, a financial services firm located in Johannesburg, South Africa, in a milestone move that establishes its presence in Africa for the first time.
Prime Financial Markets is a registered Financial Services Provider known for its expertise in treasury and financial market advice and intermediary services. The firm’s capabilities include treasury evaluation, hedge execution, liquidity and covenant management, and treasury policy and risk integration advice.
“A new geographic presence at the heart of Africa’s financial services market”
Ebury specializes in FX and payments, supporting SMEs and midcap companies in international trade. Its services encompass international payments and collections, foreign exchange in over 130 currencies, cash management strategy, trade finance, and foreign exchange risk management.
The acquisition reflects Ebury’s rapid international growth driven by increasing demand for its services as the company now boasts over 1,700 employees across 38 offices in 23 countries, handling annual transaction volumes exceeding $27 billion.
Juan Lobato, Co-Founder and Co-CEO of Ebury, highlighted the importance of international expansion in Ebury’s strategy and noted that the acquisition enhances their platform for growth and ability to offer superior services to clients. “We’re delighted Prime Financial Markets are joining the Ebury family. Its complimentary suite of services is a natural fit with our global capabilities and the transaction enables us to establish a new geographic presence at the heart of Africa’s financial services market. International expansion is key to our strategy and this acquisition further strengthens both our platform for growth and our ability to provide a market-leading service to clients.”
Gert Delport, Managing Director at Prime Financial Markets, remarked on the synergies between the two companies. “Ebury’s global scale, innovative technology and bespoke customer service makes them a natural partner for our business. It is a hugely ambitious business and we look forward to achieving those lofty strategic goals together particularly in Africa, our geography of expertise.”