Oman International Development and Investment Company (Ominvest) has announced the acquisition of a share in Thawani Technologies.
The acquisition comes as a response to the increasing use of financial technologies globally and Thawani’s significant growth and technological innovation since its establishment. The acquisition aims to support Thawani’s growth and regional reach.
Abdulaziz Al-Balushi, Group CEO of Ominvest said, “We are delighted to have partnered with Thawani, whose impressive growth over the years, as well as their innovative approach to providing best in class services to the local market, aligns with our goal of developing the group to meet the needs of the market and investors. This collaboration reinforces our commitment to leveraging technology in our operations and supporting the growth and expansion of emerging Omani companies.”
Eng. Majid Al Amri, Founder and CEO at Thawani Technologies, said, “We appreciate Ominvest’s interest in startups that align with its aspirations to integrate Thawani’s innovative services within its operations.” He added. “This agreement will support Thawani’s entry into new markets and expand beyond the region’s borders. The acquisition is expected to create significant growth opportunities for both parties and contribute to the development of the fintech sector in Oman’’.
Ominvest is one of the largest listed investment companies in the region. Founded in 1983, it has been consistently profitable and has an enviable track record of uninterrupted dividend payments to shareholders. Ominvest owns high-quality durable assets in diversified sectors, producing healthy cash flows.
Founded in 2016, Thawani Technologies specialises in providing smart payment solutions while holding a global certificate in card security. Licensed by the Central Bank of Oman, the company has been providing innovative payment solutions in financial technology to expedite payments processes, improve user experiences, and make payments safer, faster, and easier.
