Homechoice International changes its name to Weaver Fintech on JSE
Image: Supplied
Weaver Fintech is the new name of Homechoice International, which today begins trading on the JSE as WVR (formerly HIL).
The group said in a statement on Wednesday that the change of name underscores the continued growth and profitability of the group's fintech business and represents the group's core operations and future strategic positioning.
The Weaver Fintech group comprises the fintech business with its Finchoice and PayJustNow brands, as well as the retail business, which trades as Homechoice.
The group said its name-change marks the next milestone in a 40-year journey that began in 1985, with the establishment of Homechoice as a direct-marketing homewares retailer, pioneering access to credit in underserved markets. The group has since evolved to become a profitable, high-growth fintech business which is now the primary driver of group performance and profit before tax. In the group's 2024 annual report, the fintech business was responsible for more than 90% of group profits, maintaining consistent revenue and profit CAGRs of more than 30% for the past five years.
With a customer base of over 3 million and a growing network of more than 3 000 merchants, Weaver Fintech provides payments, lending and insurance through its digital ecosystem. The growing, symbiotic relationship between customers and merchant partners continues to create a significant opportunity to expand.
Sean Wibberley, the CEO of Weaver Fintech, said, 'Rooted in digital innovation, customer-centricity and financial inclusion, Weaver Fintech Ltd is intent on reshaping the financial landscape by providing South Africans with tools that empower them to better their lives and their communities."
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Weaver Fintech's fintech business operates across three verticals: payments, lending and insurance. Customer acquisition typically begins through Weaver's digital payment products, including PayJustNow's market-leading interest-free buy now pay later product, and the PayStretch product for higher value purchases over a longer repayment period. Once they are engaged in the ecosystem, they can access further financial services easily and efficiently.
'We've built a trusted digital ecosystem, with products and services that work seamlessly together, providing smart, simple financial solutions for customers and merchants,' said Wibberley. 'This rebrand is more than a name change; it's a signal of our fintech commitment and intent to customers and the market.'
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