MFS Capital Partners Limited (MFS) – Acquisition

• MFS Capital Partners (MFS)has announced that it has completed the 100% acquisition of Microfinancing Solutions Limited. The transaction, which was first announced at the end of 2022, was finalised in time for the quarter ending March 31, 2024. Microfinancing Solutions is now the flagship operating entity in the company’s portfolio.
• Microfinancing Solutions is a Kingston-based money services company that began operations in 2010 as a microlender. Since then, it has expanded its operations into other areas of finance, including FX trading, remittances, bill payment services, and private credit. Furthermore, the company has taken equity positions in several other entities. 
• Through this strategic acquisition, MFS CAP strengthens its presence in the local finance market, expanding its financial products and services offerings. By leveraging the combined expertise and resources of both entities, MFS CAP aims to enhance its ability to meet the evolving needs of clients and drive sustainable growth and value for shareholders.
• Microfinancing Solutions will continue to operate under its current brand name from its current locations, with its existing management team led by Tamar Webley, who has been at the helm for the last 12 years since it began operations. 

(Source: JSE)