Commercial Credit and Finance to acquire 20% stake in Mega Pay for Rs.180mn

Commercial Credit and Finance PLC  (CCF) yesterday said it entered into an  agreement for the acquisition of a 19.99  percent stake in Mega Pay (Pvt.) Ltd  (Pay & Go), on October 10, 2023, for a  consideration of Rs.180 million.  At the time of executing the  agreement, CCF has made an initial  investment of Rs.27 million, securing a  2.99 stake in Mega Pay.  “The remaining ownership stake  will be acquired in accordance with the  agreed-upon payment plan, with the  process of expected to be concluded  within 18 months from the date of the  agreement,” CCF said in a stock market  filing

Mega Pay provides payment services operating  under the Pay & Go brand name on behalf of numerous  private entities, government bodies, charities  and financial institutions facilitated through four  platforms—a mobile application, a website, point of sale