PASS Holdco Acquires Sibton Communications

The board of PASS Holdco Limited (trading as "PASS") are pleased to announce, subject to the satisfaction of certain conditions precedent, the acquisition of Sibton Communications Ltd ("Sibton"), a company registered in Ghana and active in IT infrastructure development and the implementation of mobile and electronic payment clearing and settlement systems.

Sibton's subsidiary company is Sibton Switch Systems Ltd, a company that is working on the Ghana Retail Payment Infrastructure System.

PASS is a holding company established and registered in the Dubai International Financial Centre, UAE. The objective of PASS is to create a system of interoperable payment switches to enable seamless electronic, platform-agnostic, and transactions across the African continent. This transaction represents a key strategic investment into Ghana by leading international investors and demonstrates a firm commitment to, and confidence in Ghana.

It is anticipated that further investments will be announced by PASS which will initially expand its footprint across the West Africa region and gradually across the continent.

PASS Holdco Limited is a private company limited by shares registered in the Dubai International Financial Centre and whose registered office is at Suite 1001, Index Tower, Dubai International Financial Centre, Dubai, UAE. Sibton Communications Ltd on the other hand is a private company limited by shares registered in the Republic of Ghana and whose registered office is in Accra, Ghana.

For further information about PASS Holdco contact Mr Bhairav Trivedi on telephone number +971 56 216 9982 or email address [email protected] .