Optasia has brought renewed optimism to SA public markets as the fintech operator’s share began changing hands on the JSE in Tuesday’s trading session.
The listing is a big win for the continent’s largest stock exchange following a spate of delistings in recent years. That picture is sweetened further by the fact that a non-SA business chose to have its primary listing on the JSE.
The shares ended at R19.38, valuing the company at R23.94bn.
In October, the Dubai-founded group announced the offer price range for the initial public offering at R15.50-R19 per share. Up to 419.8-million shares were to be made available, representing 30.4% of its issued share capital.
The group’s offer closed on Thursday last week at a price of R19 per share. The offer comprised 68,486,843 subscription shares and 273,947,369 sale shares, representing an aggregate amount of R6.5bn.
“From humble beginnings, as a single country airtime credit services provider, Optasia has scaled into an emerging market fintech powerhouse, enabling financial access for millions through an internally developed financial technology platform covering scoring, financial decisioning, disbursement and collection,” said Bassim Haidar, founder of Optasia.
Optasia describes itself as “an AI-enabled fintech platform that provides microfinancing solutions and airtime credit solutions”. In essence the company is in the business of microlending across various platforms.
Founded in December 2012, it has developed a network of distribution partners, including mobile network operators and financial institutions. It has access to more than 860-million mobile subscribers.
By end-June, Optasia operated through a network of 49 distribution partners and 13 financial institutions.
“This IPO is not just a financial milestone; it’s a celebration of belief,“ said Salvador Anglada, CEO of Optasia.
”Belief in our purpose, our people and our potential. The overwhelming interest from both SA and international investors is a strong vote of confidence in what we’ve built and in the opportunities that lie ahead.”
This comes just days after FirstRand announced a big show of support for Optasia, taking a 20.1% stake in the fintech group.
Rival lender Standard Bank has provided debt and private capital through Optasia’s growth and acted as a joint global co-ordinator, stabilisation manager and transaction sponsor for the IPO.
According to Yusuf Noorbhai, head of structured capital at Standard Bank corporate and investment banking, “Optasia’s IPO represents a massive vote of confidence in the JSE as a listing venue for African companies, including high-growth technology-enabled businesses.”
Optasia’s listing brings the total number of companies listed on the JSE to 275, with an overall market capitalisation of R23.44-trillion.
JSE boss Leila Fourie said the IPO marked a significant milestone and “reflects a signal of progress and affirmation of confidence in SA’s capital markets”.
“The listing reinforces the JSE’s role as a trusted capital-raising platform for companies with global ambition and local impact, and supports Africa’s potential to scale fintech solutions across emerging economies.”
Optasia is the company behind the airtime lending businesses of mobile operators Vodacom and MTN. It also lists India’s Airtel, Pakistan’s Jazz and Indonesia’s Indosat Ooredoo Hutchison as mobile networks that are part of its partner network.
Update: November 4 2025
This story includes the closing share price.
