Capitec Bank Holdings Limited (JSE:CPI) agreed to acquire additional stake of 57.03% in Avafin Holdings Limited for ?26.3 million on March 12, 2024. Avafin management will continue to hold the residual interest in the business, in line with Capitec?s philosophy of management ownership. The Prudential Authority of the SA Reserve Bank has approved a transaction.

The transaction is subject to the approval of the Financial Surveillance Department of the SA Reserve Bank and the Polish competition authority.