Macfarlanes has advised leading Luxembourg-based fintech company MyBucks on the acquisition of six banks in Ghana, Kenya, Mozambique, Malawi, Tanzania and Uganda from international NGO Opportunity International.

This partnership is ground breaking as it is the first time a fintech company has acquired a bank to bridge the gap between the virtual and traditional worlds of banking to enable faster, more efficient and more affordable access to financial services for its clients.  Opportunity International will become a minority shareholder in MyBucks.  The transaction is subject to customary closing conditions and regulatory approval from the Central Bank in each country.

The Macfarlanes team was led by corporate M&A partner Howard Corney assisted by Michael Weatherston.