/wholesale banking

News and resources on transaction banking, corporate banking and supply chain finance.

Ebury acquires Prime Financial Markets and establshes presence in Africa

Source: Ebury

Ebury, the global financial technology firm headquartered in London, announces the acquisition of financial services firm Prime Financial Markets based in Johannesburg, South Africa.

Prime Financial Markets is a registered Financial Services Provider offering financial market advice and intermediary services in the treasury and financial market space with significant experience supporting customers with their financial market exposure.

Prime Financial Markets’ capabilities include treasury evaluation services, hedge execution services, systems offering, liquidity and covenant management as well as treasury policy and risk integration advice.

The acquisition marks Ebury’s entrance into Africa for the first time, establishing a local office in South Africa. Demand for Ebury’s services has driven significant international growth with over 1,700 employees operating from 38 offices in 23 countries with annual transaction volumes of over $27 billion.

Ebury is an FX and payments specialist, offering financial solutions to help SMEs and midcaps trade internationally. It specialises in international payments and collections, offers foreign exchange in over 130 currencies for both major and emerging markets, as well as cash management strategy, trade finance, and foreign exchange risk management.

Juan Lobato, Co-Founder and Co-CEO at Ebury, commented: “We’re delighted Prime Financial Markets are joining the Ebury family. Its complimentary suite of services is a natural fit with our global capabilities and the transaction enables us to establish a new geographic presence at the heart of Africa’s financial services market. International expansion is key to our strategy and this acquisition further strengthens both our platform for growth and our ability to provide a market-leading service to clients.”

Gert Delport, Managing Director at Prime Financial Markets, commented: “Ebury’s global scale, innovative technology and bespoke customer service makes them a natural partner for our business. It is a hugely ambitious business and we look forward to achieving those lofty strategic goals together particularly in Africa, our geography of expertise.”

Comments: (0)