Grace Ashiru
Araxi Limited, formerly Capital Appreciation, has agreed to acquire an 80% stake in Pay@ Group for ZAR 1 billion ($62.3 million) through its subsidiary African Resonance.
Pay@ Group, founded in 2007 by Johan Koornhof, operates over 9,000 retail payment points and 150,000 mobile point-of-sale devices across Southern Africa. The company processes over ZAR 60 billion in annual transaction value.
Araxi provides cloud, AI, and point-of-sale technology services. CEO Bradley Sacks said the acquisition combines Araxi’s technology capabilities with Pay@’s physical payment infrastructure.
