Opportunity Bank sold to MyBucks

Opportunity Bank of Malawi (OIBM)  has been sold to one of the renowned international financial lending institutions,  Mybucks.

Two Senior Managers who works for OIBM confided in Nyasa Times that the management has put pen to paper.

“Yes its true OIBM has been sold to Mybacks but we don’t know finer details of the deal since the transactions were being done at senior level,” said one manager.

However, according to statement released on Thursday, the two institutions described the relationship of  MyBucks and Opportunity International as “partnership”.

“This partnership will greatly accelerate our work to help lift more people out of poverty, transform their lives and strengthen their families and communities,” said Vicki Escarra, Global CEO, Opportunity International.

“MyBucks will supercharge our mission by adding significant capital, resources and expertise to help drive financial inclusion of the unbanked and underbanked clients throughout Africa. It also helps us achieve our goal of creating and sustaining 20 million jobs by 2020, which will impact 100 million lives worldwide.”

This partnership marks the first time a fintech company has acquired banks 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.

Sharing is caring!