Actis has sold Compuscan, a South African credit information and analytics business, to Experian. The price of the transaction was $263 million.
London, 11 Dec 2018: Actis, a leading growth markets investor, has announced their agreement to the sale of Compuscan, a provider of credit information and analytics services, to Experian for ZAR3.72bn (US$263m)*
The acquisition is subject to review by the competition regulator in South Africa.
Established in South Africa in 1994, Compuscan started as a credit bureau, focused on the micro-lending industry. It enabled micro lenders to avoid financial loss by identifying clients’ repayment probability before issuing a loan.
In 2014, Actis acquired a majority shareholding in Compuscan embarking on a “buy-and-build” strategy together with management to expand the product offering and scale of the business and create one of the leading emerging market credit bureaus. Today Compuscan is a full-service credit bureau and information services provider offering credit information services, decision analytics services, marketing services and loyalty/rewards services, operating across nine countries (South Africa, Namibia, Botswana, Mozambique, Lesotho, Ethiopia and Uganda, as well as in the Philippines and Australia).
Ali Mazanderani, partner at Actis, said: “When we joined forces with Compuscan, we knew that we were backing an exceptional team with an aligned ambition. We are extremely proud of what has been achieved together, it has been a wonderful journey. Our thanks to Remo Lenisa, the CEO of Compuscan, to Michael Jordaan, the Chairman, and to the whole Compuscan team.
Dave Cooke, partner at Actis, added: “Compuscan is a great business, this successful investment further reinforces our unrivalled track record in identifying high growth African businesses, adding value and successfully exiting to quality buyers. Actis has now committed over USD$4.5bn to Africa and delivered over 33 exits.”
* ZAR/US$ exchange rate of 14.17 as at 10 December 2018.
Actis is a leading investor in growth markets, delivering consistent competitive returns, responsibly. It has a growing portfolio of investments across Asia, Africa and Latin America, and has raised over USD14bn since inception.
Actis has a proven track record of “buy-and-build” financial technology investments. In 2010, it established Emerging Markets Payments Holdings (EMPH), which offers payment processing services across Africa and the Middle East. In March 2016, Actis agreed to sell EMPH to Network International. At the time the group had the broadest footprint of any payments company on the continent. It contracted with 140 financial institutions across 40 countries and at more than 30,000 retail outlets and processed for all the major card schemes.
Applying developed market disciplines to growth markets, an established team of c. 120 investment professionals in eleven countries identify investment opportunities in response to two trends: rising domestic consumption and the need for sustained investment in infrastructure across private equity, energy and real estate asset classes.
Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. Actis targets consistent superior returns across asset classes over the long-term, bringing financial and social benefits to investors, consumers and communities.
Established in South Africa in 1994, Compuscan was the country’s first credit bureau to pioneer both positive and negative data for the microfinance sector, providing vital assistance at a time it was most needed. Compuscan has since become a key player in this sector and grown into a company that operates across nine countries offering credit and information services, decision analytics services, marketing services, loyalty & rewards solutions, and training.
Their insights and solutions empower a global client base in prospecting, acquisition, consumer management and collections. The industries in which Compuscan currently operates include credit providers and banking, microfinance, retail, manufacturing, logistics and transport, travel and leisure, utilities, and telecommunications.
Their expansion into Africa and ASEAN is supported by more than 400 employees in South Africa, Namibia, Uganda, Botswana, Lesotho, Mozambique, Ethiopia, the Philippines and Australia.
For more information on Compuscan, please visit www.compuscan.global