The Virgin Group’s global investment arm and Smollan, a retail solutions company, have bought a stake in mobile transaction software company wiGroup. This follows an investment in 2015 by Investec Asset Management through its private equity arm. Investec remains the largest shareholder in the company.
The investment will assist the company in accelerating its global expansion strategy into key European and African markets by using the extensive global network of Virgin and Smollan.
wiGroup was founded in 2007. It is the largest mobile transactional platform in Africa with over 75,000 integrated till points accepting mobile payments, loyalty and rewards transactions. It is present in South Africa, Namibia, Zambia, Nigeria, Mauritius and Ghana.