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# Juicy Multiple Claimed on Optasia JSE IPO: Waha Capital
- URL: https://www.financialht.com/juicy-multiple-claimed-on-optasia-jse-ipo-waha-capital/
- Published: 2026-01-18T12:36:44.000Z
- Updated: 2026-05-24T20:22:57.000Z
- Description: Microfinancing fintech's strong debut nets windfall for Abu Dhabi-based investor.
- Author: Bourgaize Murray
- Tags: Capital Markets

$2.5 billion boutique **Waha Capital**, a specialist investor in emerging markets based in Abu Dhabi, has netted a 4x multiple on its investment in **Optasia**, an AI-backed fintech that debuted this week on the **Johannesburg Stock Exchange** (JSE), with a 25% IRR.

Dubai-based Optasia uses artificial intelligence to provide credit scoring and transaction processing for micro-financiers, netting fees on micro-loans and other financial products offered today in 38 underserved markets. The company is said to be eyeing further expansion into Asia following its oversubscribed public listing - the largest in a strong year for IPOs on the JSE.

The exit "underscores our commitment to delivering strong returns to shareholders and redeploying capital into high-impact opportunities that align with our growth strategy," said **Mohammed Hussain al Nowais**, Managing Director at Waha Capital.

In an up-and-down year for global IPOs, it turns out fintech, AI, and a mission-driven model of financial inclusion can still offer a potent combination for investors. 

Waha's strong returns are also indicative of the value plays still to be discovered in EM fintech, and the payoff for those who are patient: Waha was an investor in Optasia for nearly a decade, taking a 20 percent stake in 2017.