Experian to acquire African credit info firm Compuscan for $263m
Experian is buying African credit information and analytics services firm Compuscan for ZAR 3.72 billion ($263 million) from markets investor Actis.
Compuscan operates across seven African countries
Established in South Africa in 1994, Compuscan started as a credit bureau, focused on the micro-lending industry. It enabled micro lenders to identify 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”.
According to Actis, Compuscan offers 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).
Dave Cooke, partner at Actis and based in South Africa, says Actis has now committed over $4.5 billion to Africa and delivered over 33 exits.
The acquisition is subject to review by the competition regulator in South Africa.
It’s another purchase for Experian as back in March it bought ClearScore, a UK firm that offers free credit checks for consumers and has over six million customers. It came with a price tag of £275 million, with an additional earnout potential.
