EFT CORPORATION LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-02-15
Overdue
Watchouts
Cash
£3M
USD 3,872,931
highest in 4 filed years
Net assets
-£14M
USD -18,633,993
lowest in 5 filed years
Employees
211
highest in 5 filed years
Profit before tax
-£7M
USD -9,830,944
Period ending 2024-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Confirmation statement overdue
Due 2026-02-15.
-
Material uncertainty over going concern
We draw attention to note 2.4 in the financial statements, which indicates uncertainty surrounding the Group's performance and ability to discharge its liabilities is reliant on future fund raises. Whilst the Directors are currently seeking to implement an investor backed bank facility, the timing and amount of this is uncertain. As stated in note 2.4, these events or conditions, along with the other matters as set forth in note 2.4, indicate that a material uncertainty exists that may cast significant doubt on Group and the Parent Company's ability to continue as a going concern.
Net assets
5-year trend · vs Technology median
Accounts
5-year trend · latest reflected 2024-12-31
| Metric | Trend | 2021-03-31 | 2022-03-31 | 2023-02-28 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | £4,655,266 | £17,473,109 | |
| Operating profit | — | — | — | -£3,858,053 | -£4,733,217 | |
| Profit before tax | — | — | — | -£4,217,023 | -£7,349,140 | |
| Net profit | — | — | — | -£4,293,636 | -£7,982,554 | |
| Cash | — | £2,701 | £1,468,844 | £2,089,433 | £2,895,216 | |
| Total assets less current liabilities | £1 | £396,038 | £2,536,088 | -£6,649,345 | -£13,823,970 | |
| Net assets | £1 | £163,438 | £2,445,617 | -£6,689,747 | -£13,929,874 | |
| Equity | £1 | — | — | -£6,689,747 | -£13,929,874 | |
| Average employees | 0 | 0 | 4 | 57 | 211 | |
| Wages | — | — | — | £2,417,652 | £7,304,776 | |
| Directors' remuneration | — | — | — | £320,741 | £327,284 |
Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2021-03-31 | 2022-03-31 | 2023-02-28 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -82.9% | -27.1% | |
| Net margin | — | — | — | -92.2% | -45.7% | |
| Return on capital employed | — | — | — | 58.0% | 34.2% | |
| Gearing (liabilities / total assets) | — | — | — | 139.0% | 142.0% | |
| Current ratio | — | — | — | 0.66x | 0.38x | |
| Interest cover | — | — | — | -6.19x | -1.49x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- EFT CORPORATION LIMITED 2025-04-29 → present
- UKHESHE INTERNATIONAL LIMITED 2020-03-20 → 2025-04-29
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- HaysMac LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“We draw attention to note 2.4 in the financial statements, which indicates uncertainty surrounding the Group's performance and ability to discharge its liabilities is reliant on future fund raises. Whilst the Directors are currently seeking to implement an investor backed bank facility, the timing and amount of this is uncertain. As stated in note 2.4, these events or conditions, along with the other matters as set forth in note 2.4, indicate that a material uncertainty exists that may cast significant doubt on Group and the Parent Company's ability to continue as a going concern.”
Group structure
- EFT CORPORATION LIMITED · parent
- EFT Corporation Technologies (Pty) Ltd 75%
- Ukheshe Africa Ltd 100%
- Ukheshe Technologies ME Limited 100%
- Ukheshe APAC Pte. Ltd 100%
- EFT Corporation Limited 100%
- EFT Payment Solutions (Pty) Ltd 75%
- Payperks (Pty) Ltd 75%
- Ukheshe Kenya Limited 100%
- Ukeshe Zimbabwe Ltd 100%
- EFT Corporation Zimbabwe (Private) Ltd 100%
- EFT Corporation Zambia Limited 100%
- Electronic Funds Technology (Ghana) Limited 100%
- EFT Corporation (Kenya) Limited 100%
- Electronic Funds Technology Corporation South Africa (Pty) Ltd 68.3%
- EFT Pay 100%
- Quality Vector Technologies Private Ltd 80%
- EFT Corporation Services (Private) Limited 100%
- Eswitch Zambia Ltd 100%
Significant events
- “On 7 January 2024, the Group successfully completed the acquisition of EFT Corporation Limited and its subsidiaries, with investment support from its lead investor, Development Partners International ("DPI").”
- “Consequently, the Group undertook a corporate name change and rebranding from Ukheshe International Limited to EFT Corporation Limited.”
- “Bank Sponsorship Termination - EFT Payment Solutions (Pty) Ltd: Due to increased regulatory scrutiny of sponsor bank relationships, EFT Payment Solutions (Pty) Ltd elected to transition to a new sponsoring partner...However, delays in the approval process have resulted in the termination of the existing sponsorship for current customers, effective 30 April 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ABDULLE, Muna | Director | 2022-12-22 | Jul 1990 | Dutch |
| GRIFFITHS, James Stanford | Director | 2022-12-22 | Aug 1985 | British |
| HAYWARD, Clayton | Director | 2022-12-22 | Aug 1972 | South African |
| SMITS, Mike | Director | 2022-12-22 | Feb 1979 | South African |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| JARDIM, Chante | Director | 2021-07-28 | 2024-04-01 |
| MHLANGA, Prins | Director | 2022-12-22 | 2026-03-24 |
| MOKWENA, Paula | Director | 2023-03-31 | 2024-07-31 |
| SMITS, Mike | Director | 2020-03-20 | 2021-12-01 |
| SYED, Jean-Philipe Elie Henri | Director | 2022-12-22 | 2023-03-31 |
| ZIERVOGEL, Lee | Director | 2024-04-01 | 2025-02-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Umbra Global Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-01-13 | Active |
| Chante’ Jardim | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-12-11 | Ceased 2022-12-22 |
| Mr Mike Smits | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-03-20 | Ceased 2021-12-11 |
Filing timeline
Last 20 of 55 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-04-29 CERTNM Certificate change of name company PDF
- 2024-01-21 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-14 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-06 | AA | accounts | Accounts with accounts type group | |
| 2025-04-29 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-02-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-02-24 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-24 | AA | accounts | Accounts with accounts type group | |
| 2024-10-04 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-13 | CH01 | officers | Change person director company with change date | |
| 2024-09-13 | CH01 | officers | Change person director company with change date | |
| 2024-09-13 | CH01 | officers | Change person director company with change date | |
| 2024-09-13 | CH01 | officers | Change person director company with change date | |
| 2024-09-12 | CH01 | officers | Change person director company with change date | |
| 2024-09-06 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-04-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-08 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-01 | AA01 | accounts | Change account reference date company previous shortened | |
| 2024-02-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-22 | SH01 | capital | Capital allotment shares | |
| 2024-01-22 | SH01 | capital | Capital allotment shares | |
| 2024-01-21 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.