Sanlam Private Equity (SPE) agreed to acquire Q Link’s shares from UK based private equity fund Apis Partners, local private investment firm Multiply Group, and other minority shareholders. Q Link provides payment application software to the South African insurance industry and other third-party benefit providers.
The software manages deductions in both the payroll and bank collection streams. Q Link services more than 4.5 million employees. The concept of ‘affordability and control’ that the company employs, ensures that only valid and affordable deductions are processed through employee payrolls, as the company stated.
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