LONDON, United Kingdom — As African financial institutions continue to expand their influence across global markets, one of the most significant fintech developments of the year is entering its next phase. Ochebhoya Ekpete, the founder and chief executive behind Leatherback, will continue leading the cross-border payments company following its acquisition by Zedcrest Group, a diversified African financial services firm headquartered in Lagos, Nigeria.
The acquisition marks an important milestone not only for Leatherback but also for Africa’s rapidly evolving fintech ecosystem. Rather than fully absorbing the company into its existing operations, Zedcrest has announced that Leatherback will continue operating as an independent subsidiary, retaining its brand, leadership team, and entrepreneurial culture while gaining access to the financial strength, institutional relationships, and strategic resources of one of Africa’s leading investment groups.
For Black Business Review, the transaction represents a growing trend in African business leadership—one in which successful homegrown financial institutions are acquiring innovative technology companies to build integrated financial ecosystems capable of competing on the global stage.
Preserving Leadership While Accelerating Growth
Acquisitions often bring uncertainty for employees, customers, and business partners. Leadership changes, cultural shifts, and operational restructuring frequently follow corporate transactions.
That is not the path being taken with Leatherback.
Instead, Zedcrest Group has chosen to preserve the leadership that helped build the company. Ochebhoya Ekpete will continue directing Leatherback’s strategy and day-to-day operations, ensuring continuity for customers while maintaining the innovation-driven culture that fueled the company’s rapid growth.
The decision reflects a growing recognition throughout the financial technology industry that founders often possess unique institutional knowledge, customer relationships, and product vision that cannot easily be replaced.
By keeping Ekpete and his executive team in place, Zedcrest gains the benefits of integration without sacrificing the agility that has made Leatherback one of Africa’s emerging cross-border payments platforms.
Building Better Cross-Border Payments
Leatherback was created to address one of the most persistent challenges facing African businesses and globally connected entrepreneurs: moving money quickly, securely, and efficiently across international borders.
The company’s platform enables individuals and businesses to manage multiple currencies, make international transfers, and simplify global financial transactions through modern digital payment infrastructure.
As international trade continues expanding throughout Africa, demand for reliable cross-border financial services has accelerated. Small businesses, importers, exporters, freelancers, technology companies, and multinational organizations increasingly require payment systems capable of operating across multiple jurisdictions without the delays and costs associated with traditional banking networks.
Leatherback’s technology was designed to solve those problems while making international commerce more accessible for African businesses seeking global opportunities.
The Strategic Value of the Acquisition
For Zedcrest Group, the acquisition is more than an expansion into fintech.
It represents a strategic investment in the infrastructure supporting international commerce.
Already active in investment banking, wealth management, securities, structured finance, and advisory services, Zedcrest can now complement those offerings with an established cross-border payments platform capable of serving clients operating across multiple markets.
The transaction also demonstrates how African financial institutions are evolving beyond passive investment strategies.
Rather than providing venture capital alone, firms like Zedcrest are increasingly acquiring technology companies outright, integrating innovative platforms into broader financial services organizations capable of competing internationally.
The result is a more diversified financial ecosystem that combines institutional expertise with modern financial technology.
A Platform for International Expansion
Leatherback is expected to continue expanding its international footprint following the acquisition.
The company has outlined plans to strengthen operations across Africa while developing additional hubs that support growing customer demand in international markets. Maintaining Leatherback as an independent subsidiary provides the flexibility to pursue expansion while benefiting from Zedcrest’s financial resources, governance, and strategic guidance.
This structure reduces many of the operational disruptions often associated with mergers and acquisitions.
Customers retain the products and leadership they trust, while the company gains increased access to capital, technology investment, regulatory expertise, and institutional partnerships.
For businesses relying on efficient international payments, that continuity could prove just as valuable as the acquisition itself.
A New Model for African Financial Leadership
The acquisition also highlights a broader transformation taking place across Africa’s financial sector.
For years, African fintech companies attracted international investors seeking exposure to one of the world’s fastest-growing digital economies. Increasingly, however, African-owned financial institutions are becoming the acquirers rather than the acquisition targets.
That shift reflects growing confidence, stronger balance sheets, and greater institutional maturity across the continent’s financial services industry.
By identifying promising technology companies, investing early, and ultimately integrating those businesses into larger financial organizations, African firms are creating homegrown financial ecosystems capable of serving both regional and international markets.
Leatherback’s continued independence under Ochebhoya Ekpete’s leadership illustrates that acquisitions no longer have to mean losing entrepreneurial identity. Instead, they can become a platform for accelerating innovation while preserving the leadership responsible for a company’s success.
Looking Ahead
As digital commerce, international trade, and financial inclusion continue to reshape Africa’s economy, cross-border payments will remain one of the most strategically important sectors in financial technology.
With the backing of Zedcrest Group and the continued leadership of Ochebhoya Ekpete, Leatherback enters its next chapter with greater financial resources, expanded institutional support, and a stronger platform for international growth.
The acquisition demonstrates that African financial institutions are increasingly building comprehensive financial ecosystems capable of competing globally while investing in homegrown innovation.
For Ochebhoya Ekpete, remaining at the helm ensures that Leatherback’s vision continues uninterrupted. For Zedcrest, the transaction strengthens its position as one of Africa’s emerging financial-services leaders. And for the continent’s fintech sector, the deal represents another milestone in the evolution of African-owned companies shaping the future of global finance.
