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Yoma acquiring 34% stake in Myanmar's Wave Money for $25.6 mil

Fintech

Yoma acquiring 34% stake in Myanmar's Wave Money for $25.6 mil

PC Lee Published on Tue, Mar 06, 2018 / 7:34 AM GMT+8

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SINGAPORE (Mar 6): Yoma Strategic is adding a fourth core pillar of financial services to its businesses of real estate, consumer and automotive & heavy equipment in Myanmar.

Yoma is acquiring a 34% stake in Digital Wave Money Myanmar Co. for US$19.4 million ($25.6 million) from First Myanmar Investment Company (FMI).

Wave Money is Myanmar's first licensed provider to offer simple and reliable mobile financial services to consumers in the country.