PASS Holdco Acquires Sibton Communications
The board of PASS Holdco Limited (trading as "PASS") are pleased to announce, subject to the satisfaction of certain conditions precedent, the acquisition of Sibton Communications Ltd ("Sibton"), a company registered in Ghana and active in IT infrastructure development and the implementation of mobile and electronic payment clearing and settlement systems. Sibton's subsidiary company is Sibton Switch Systems Ltd, a company that is working on the Ghana Retail Payment Infrastructure System.
PASS is a holding company established and registered in the Dubai International Financial Centre, UAE. The objective of PASS is to create a system of interoperable payment switches to enable seamless electronic, platform agnostic, transactions across the African continent.
The transaction represents a key strategic investment into Ghana by leading international investors and demonstrates a firm commitment to, and confidence in, Ghana.
It is anticipated that further investments will be announced by PASS which will initially expand its footprint across the West Africa region and gradually across the continent.
PASS Holdco Limited
PASS Holdco Limited is a private company limited by shares registered in the Dubai International Financial Centre and whose registered office is at Suite 1001, Index Tower, Dubai International Financial Centre, Dubai, UAE.
Sibton Communications Ltd
Sibton Communications Ltd is a private company limited by shares registered in the Republic of Ghana and whose registered office is in Accra, Ghana.
Contact for further information:
Mr Bhairav Trivedi, +971 56 216 9982, bhairav.trivedi@pass.co.com.