Norton Rose Fulbright advises Ethos on R700 million investment into emerging market FinTech provider Channel VAS

Global law firm Norton Rose Fulbright has advised funds managed by Ethos Private Equity on its acquisition of up to 20 per cent of Channel VAS Investments Limited (Channel Vas).

Channel Vas is a FinTech and data analytics company that works together with over 27 mobile network operators in over 30 countries globally. It currently serves over 650 million people globally and lends more than US$5 million daily to its customers.

Ethos is one of the leading South African private equity investment firms. Its acquisition of the 20 per cent stake in Channel Vas marks the first investment from Ethos’ large buyout fund, Ethos Fund VII and Ethos Artificial Intelligence Fund.

The Norton Rose Fulbright team advising Ethos was led by partner Bayo Odubeko in London and included associates Si Xian Cai, Nariman Armaly and Oji Adoh.

Bayo Odubeko commented: “Africa is at the forefront of the mobile payments revolution. Mobile payments providers are deploying increasingly sophisticated technologies, including AI, Big Data analytics and algorithms, to provide essential financial services to the unbanked, particularly in emerging markets. We expect to see continued M&A and private equity activity in this space.”

Norton Rose Fulbright has extensive experience in advising clients on a wide range of legal and regulatory issues in the fast growing global payments sector in both emerging and developed markets.

The firm has advised on several of the largest transactions in the African payments sector, including the acquisitions of Egyptian mobile top-up business Fawry for Payments and pan-African digital carrier billing business TPAY Mobile, as well as the funding of Nigeria’s largest mobile payment company, Paga.

For further information please contact:

Louise Nelson, Senior PR manager
Tel: +44 20 7444 5086; Mob: +44 7909 684 893
louise.nelson@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright 

Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.

Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.

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Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.