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Optasia, the Dubai-based fintech company founded by Nigerian-Lebanese entrepreneur Bassim Haidar, plans to list on the Johannesburg Stock Exchange (JSE) in an initial public offering that could value the company at about R26 billion ($1.5 billion).
Optasia seeks $365 million from JSE listing
The proposed listing marks one of the largest potential technology offerings on the JSE in recent years and could raise up to R6.3 billion ($365 million) through a mix of new share issues and private placements. The deal will also give existing shareholders an opportunity to sell part of their stakes.
A listing of this size would put Optasia’s market value ahead of some of South Africa’s established firms, including Telkom SA, Pick n Pay, WeBuyCars, Spar Group, and Premier Group, all of which are currently valued below R25 billion ($1.5 billion).
Haidar builds Optasia into global fintech
Founded in 2012, Optasia has grown into a global provider of AI-driven financial services, offering automated credit scoring, airtime advances and microloans to people who lack access to traditional banking. It operates in over 38 countries across Africa, the Middle East and Asia.
Haidar, who was born in Nigeria to Lebanese parents, has spent over a decade building Optasia from the ground up. His approach combines financial inclusion with advanced technology, allowing mobile operators and financial institutions to extend small credit facilities to millions of low-income customers.
Before launching Optasia, Haidar co-founded GMT, a West African procurement and logistics group that helped him build his early fortune. While he had previously considered selling his stake in Optasia, Haidar shifted focus toward expansion after the company’s recent growth.
Haidar taps top banks for IPO
To prepare for the Johannesburg offering, Haidar has hired top-tier international and South African banks as advisers. Optasia now processes over 30 million credit decisions daily and serves over 120 million active users, relying on vast data analytics to assess customers with limited or no credit history.
If the IPO proceeds as planned, it would mark a significant moment not only for Haidar but also for the broader African fintech sector which has increasingly turned to public markets to raise capital and expand beyond regional boundaries.
