MFS Capital Partners Limited (MFS) – Prospective Acquisition

• MFS Capital Partners Limited (MFS) has announced that it has signed a Memorandum of Understanding (MOU) with the shareholders of Micro Financing Solutions Limited to acquire 100% of its shares.
• Micro Financing Solutions Limited is a Kingston-based private company licensed by the Bank of Jamaica. The company began operations in 2014 as a microlender and licensed cambio, and since then, has expanded its operations into other areas including remittances, bill payment services and large credit. It has also gone on to take equity positions in several other entities. The company is a sub-agent of Lasco Moneygram and Western Union.
• This acquisition is a part of MFS’s strategy to target companies involved in money services, investment banking and real estate that show robust growth potential. This transaction would be the first major deal executed under the new management team of MFS. Completion of the deal is subject to regulatory approval.
• Given the approval, MFS will have a foothold in both micro-financing and cambio services which are two key areas that have the potential to boost company revenue.

(Source: JSE)