Ebury expands into Africa with acquisition of Prime Financial Markets

By Delisha Fernandes

Ebury, a London-based financial technology, has announced the acquisition of Prime Financial Markets, a South Africa-based firm specialising in advisory & intermediary services in treasury and financial markets space.

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.

Juan Lobato, Co-Founder and Co-CEO at Ebury, said, “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.”

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.

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.

Gert Delport, Managing Director at Prime Financial Markets, said, “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.”