DGAP-News: MyBucks concludes acquisition of one Opportunity Bank and two Microfinance Lending Institutions

GERMANY


DGAP-News: MyBucks S.A. / Key word(s): Acquisition
MyBucks concludes acquisition of one Opportunity Bank and two Microfinance
Lending Institutions

01.07.2016 / 13:10
The issuer is solely responsible for the content of this announcement.

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Press release

MyBucks concludes acquisition of one Opportunity Bank and two Microfinance
Lending Institutions

  - MyBucks concludes acquisition of Opportunity Tanzania Limited,
    Opportunity Kenya Limited and Banco Oportunidade de Mozambique

Luxembourg, 1 July 2016 - As part of a partnership with Opportunity
International, Frankfurt listed MyBucks S.A. ("MyBucks"), a Luxembourg-
based Fintech holding company for GetBucks, GetSure and GetBanked,
announced today that it has officially completed the closing conditions for
Opportunity Tanzania Limited, Opportunity Kenya Limited and Banco
Oportunidade de Mozambique.

Commenting on this as well as the Opportunity International partnership,
Dave van Niekerk, CEO of MyBucks says: "The partnership allows us to
actively pursue virtual financial inclusion across the continent, where
digital and mobile banking are the only realistic path to banking the
unbanked and underbanked in these markets. The introduction of Fintech to
these markets will continue to bridge the gap between the virtual and
traditional worlds of banking to enable faster, more efficient and less
expensive access to financial services for clients," he comments.

Through completing the acquisition in Kenya, Mozambique and Tanzania,
MyBucks has increased its footprint to eleven African markets. Kenya,
Mozambique and Tanzania generated c. EUR8 million in revenues for the year
ending 31 December 2016, and will allow MyBucks to accelerate its growth,
roll out its banking products more effectively and grow the bottom line
accordingly.

Tim Nuy, Executive Director of MyBucks, comments: "In parallel, we are
pleased to announce today that grant money is being advanced to Opportunity
Kenya and Tanzania for agriculture finance initiatives by Opportunity
International. The support for our partnership has been tremendous and we
believe this advance is a testament to that support. We are very confident
that we will be able to continue expanding our client base rapidly using
technology, delivering on the current grants, whilst continuing to benefit
from Opportunity's work in this regards."

Opportunity International Global CEO Vicki Escarra, says "Our goal is to
continue leveraging digital and mobile technology to serve clients in even
the most remote areas of Africa, and bring about the next phase of
financial inclusion that will reach hundreds of millions faster and more
efficiently than has been done before." Escarra notes that the funds
received in Kenya and Tanzania is evidence of the continued strong support
of our work and strategy among corporate partners helping us accelerate our
mission and improve more lives.

Van Niekerk says that customers will still be able to access all the
products that were previously available to them in Kenya and Tanzania, but
with the added benefits of the MyBucks technology platform, which will
ensure much faster product delivery, as well as more accurate credit
scoring.

"Our cutting-edge technology has effectively allowed us to refine the
process of banking, building credit and accessing other short-term
financial services, through virtual solutions and advanced technological
applications. Going forward, our ultimate aim is to ensure that when
compared to traditional methods our offering is fast, simple and
trustworthy."

MyBucks recently listed on the Frankfurt Stock Exchange, raising EUR 15.5m
which translates into a market capitalization of EUR 150m. MyBucks expects
to announce further positive news regarding the remaining three countries
(Ghana, Malawi and Uganda) in the next weeks.

About MyBucks

MyBucks is a FinTech company based in Luxembourg that delivers seamless
financial services through technology. Through its brands GetBucks,
GetBanked and GetSure the company offers unsecured consumer loans, banking
solutions as well as insurance products to customers. MyBucks has
experienced exponential growth since its inception in 2011 and today has
operations in nine African and two European countries. MyBucks aims to
ensure that its product offering is accessible, simple and trustworthy, in
comparison to traditional, non-technological methods, ultimately working
towards enhancing the benefits to the customer. The MyBucks' product
offering enables customers to manage their financial affairs easily and
conveniently.

Discover more at: www.mybucks.com

About Opportunity International

Opportunity International is a global nonprofit organization that helps
people in developing nations work their way out of poverty, transform their
lives and strengthen their families and communities. Founded in 1971, the
organization has provided more than $9 billion in loans to help clients
launch and expand businesses, provide for their children and create jobs in
their communities.

Press Contact

Sandy Greaves Campbell

Phone: +27 83 408 3373

Email: sandy@mybucks.com


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01.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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   Language:    English                                    
   Company:     MyBucks S.A.                               
                40, avenue Monterey                        
                L-2163 Luxembourg                          
                Grand Duchy of Luxembourg                  
   Phone:       +352 2088 2123                             
   Fax:         +27 86 537 2010                            
   E-mail:      info@mybucks.com                           
   Internet:    www.mybucks.com                            
   ISIN:        LU1404975507                               
   WKN:         A2AJLT                                     
   Listed:      Open Market (Entry Standard) in Frankfurt  
 
 
   End of News    DGAP News Service  
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476809 01.07.2016