Pointbreak acquires 38 per cent in EBank

28 Feb 2015 13:00pm
WINDHOEK, 28 FEB (NAMPA)- Namibian Investment Management Company Pointbreak has adopted 38.3 per cent shares in EBank Holdings Limited from Take Your Money Everywhere (TYME).
A media statement issued on Thursday by EBank's Chief Executive officer (CEO) Mike Mukete, stated that the transaction received approval from both the Namibian Competition Commission and the Bank of Namibia following the recent 100 per cent acquisition of the TYME, by the Commonwealth Bank of Australia.
“Our positive and ongoing relationship with TYME has been cemented in a long-term master service agreement, which provides for sustainable product development capabilities as key technological support,” he said, adding that following the transaction, Pointbreak will own 77.5 per cent in EBank, with the remaining 22.5 per cent held by individual Namibian shareholders.
The individual shareholders comprises of Monica Geingos, Martin Shipanga, and the EBank management and staff.
Mukete further reflected on the success of the TYME’s relationship with EBank saying, “Our partnership has produced a state of the art, low cost banking platform that provides easy, safe and smart banking for all Namibians,” he said.
EBank was found in 2013 to provide access to a new generation of easy, safe and smart banking.
The bank received its banking licence on 28 May 2014 and was officially launched to the public on 1 November 2014.