SIA Enters African Market With Acquisition

SIA (Società Interbancaria per l’Automazione) has announced the acquisition of a 30 per cent stake of Perago Financial System Enablers, the provider of financial infrastructure solutions and services based in Pretoria. The presence of SIA as a stakeholder will allow integration with the Perago payment system infrastructure and is part of SIA’s strategy to further expand its service offering to the international financial community. Renzo Vanetti, CEO of SIA, said: “SIA has successfully transformed itself from an Italian service provider into a pan-European and global solution provider.” Dr Philip Tromp, managing director of Perago, and his team played a key role in financial infrastructure developments in South Africa in the 1990s. After establishing Perago, they continued their work in the field and have made an impact internationally.

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