About LXS

Recognising that the next significant growth phase in the African banking and finance sectors is going to be the automation of transactions and applications of increasingly sophisticated card technologies, and building on the Loita Global concept, LXS was created in late 2001. LXS has a track record of delivering these solutions / services throughout Africa.

LXS has established fully operational Electronic Funds Transfer and switching businesses in Zimbabwe, Kenya and Zambia along with the requisite support infrastructure and services. Key to the positioning of any successful electronic banking switching, clearing and Settlement Company is its relationships with the central banks and banks in the respective countries in which it operates. Loita, and its group companies, have successfully invested in this area and have unique appointment as the National Systems Operator in all of the countries in which it has set up businesses. Such appointment requires negotiation, investment and development of relationships with local and international banks in the particular region.

In addition to the switches, LXS has an established business unit within the group which provides technological support to the switches.

Competition is on the upsurge in the changing financial markets and on the African continent. Customers are benefitting from the falling costs of technology and access to a larger product set with enhanced services at lower costs. Technology and communications is the key for electronic banking with access to ATM machines, GPRS POS, magnetic stripe cards, smart cards and cell phone banking. However, the distribution system along with sufficient transaction volumes is key to the success of the switch.

Electronic banking is widely anticipated to be the next technology explosion on the continent after cellular telephone technology. Electronic Funds Transfers and Payments have been the key to the growth of Electronic Banking in Africa over the past few years. Through LXS's two core divisions; EFT CORP and the Pan African switching businesses:

  • LXS is positioned to bring together the most advanced technology capabilities within the group, whilst making use of the coordination and synergistic relationships between these companies and becoming the market leader in developing, and providing advanced products to the Pan - African market.

  • LXS objective is to bring advanced technologies not only to the large banking and non-Banking customer but also to the SMEs. In doing so, whole segments of the African customer base, mostly under-served by the large banks, will benefit.