FSS Makes Strategic Investment in Ecentric to Accelerate Growth Momentum in Africa

/ -- Acquires 46% stake with a clear intent to expand its market presence in Africa
(Logo: https://mma.prnewswire.com/media/682112/FSS_Logo.jpg )
Commenting on the announcement, Nagaraj Mylandla, Managing Director, FSS stated, "We are pleased to join Ecentric as an institutional investor in the company. We see the investment as an extraordinary opportunity to achieve a leadership position in the African payments space. The partnership will help us leverage mutual synergies to strengthen our presence in Africa's largest markets and drive increased growth for FSS payment acquiring and other solutions."
Speaking on the transaction, Larry McCarthy, Head Strategic Investments and Alliances, Standard Bank Group, said; "The introduction of FSS as a Strategic Equity Partner into Ecentric will further cement Ecentric's position as a leading provider of value-added payment services to its clients and accelerate its growth into new products, across new markets in Africa as well as furthering commercial ties between Africa and India."