FirstRand Reclaims Most Valuable Bank Title and Invests R1.5 Billion to Expand AI Fintech Foothold in Optasia

FirstRand reclaims its title as SA’s most valuable bank and increases its share in AI-fintech Optasia to 26.1% to scale global credit access.

By: AXL Media

Published: Mar 29, 2026, 9:01 AM EDT

Source: Information for this report was sourced from Luke Fraser

Strategic Expansion into AI-Driven Financial Infrastructure

FirstRand Limited, the parent organization of FNB and RMB, has significantly deepened its partnership with the fintech giant Optasia by acquiring an additional 6% stake in the company. This R1.5 billion transaction involved the purchase of over 74 million ordinary shares at a price of R20.00 per unit, bringing FirstRand's total ownership to 26.1%. According to group leadership, this move follows an initial strategic investment made in October 2025 just prior to Optasia’s public listing. By increasing its position, South Africa’s most valuable bank is securing a larger role in the governance and future trajectory of a platform that specializes in expanding financial access through sophisticated digital intelligence layers.

The Transition of Ownership and Governance

The additional shares were acquired from Bassim Haidar, the founder and non-executive director of Optasia, who retains a 1.5% stake and remains a key figure on the company's board. This transition allows the company to benefit from FirstRand’s institutional backing while maintaining the visionary leadership of its founder. According to Optasia CEO Salvador Anglada, the increased investment from FirstRand is a testament to the firm's exceptional performance throughout 2025. The company’s leadership structure also features Michael Jordaan, the former CEO of FNB, who serves as the independent chairman, further bridging the strategic gap between the traditional banking giant and the agile fintech platform.

Machine Learning and Credit Decisioning in Data-Scarce Markets

Optasia’s primary value proposition lies in its AI-powered infrastructure, which is specifically designed to navigate the complexities of emerging markets where traditional financial records are often nonexistent. The platform utilizes real-time data and advanced analytics to support responsible credit decisioning at a massive scale. According to technical reports, Optasia acts as the risk intelligence layer for its partners, offering micro-financing and airtime credit solutions through mobile systems. By using machine learning to establish financial identities for underserved consumers, the platform enables millions of individuals to participate in the digital economy who were previously excluded by traditional banking models.