Momentum takes control of 26-year-old South African company for R26.25 million
Momentum Corporate has acquired full ownership of 26-year-old South African financial services company Verso Group for R26.25 million.
In a statement, Momentum noted that the acquisition will help it expand its retirement fund administration and employee benefits offering.
The transaction, which became effective on 1 September 2026, gives Momentum Corporate, a division of Momentum Group, 100% of the shares in Verso Group Proprietary Limited.
Momentum bought out the 50% stake previously held by JSE-listed financial services company Vunani Limited for R26.25 million, while also acquiring the remaining shares held by Verso’s founding partners.
Verso was established in Bellville, Cape Town, in June 2000 under the name Verso Financial Services, which is now known as Verso Benefits Administrator.
The company initially focused on providing independent pension and retirement fund administration services.
It differentiated itself by investing heavily in proprietary administration technology rather than relying primarily on third-party software.
This allowed Verso to develop and control its own systems and adapt them to the requirements of different and more complex retirement funds.
Over the following years, the business expanded from retirement fund administration into a broader range of employee and personal financial services.
Verso Health was established to provide medical aid, gap cover and employee wellness broking, while Verso Wealth expanded the group into retail wealth management, personal risk management, and estate and retirement planning.
The group also established Verso Trustee & Fiduciary Services to provide independent Section 37C death benefit investigations and fund secretariat services.
As the business grew, Verso established a national presence through offices and regional representatives in Pretoria, Johannesburg, Gqeberha and East London.
A major change in its ownership came in October 2022, when Vunani acquired a 50% stake in Verso Group.
The partnership was intended to combine Vunani’s asset management capabilities with Verso’s established position in the employee benefits market.
Continued investment in employee benefits and retirement services
Following the transaction, Verso won several significant mandates, including its appointment as administrator of the Agricultural Sector Provident Fund. The fund has more than 20,000 members.
The latest deal brings Verso fully under Momentum Corporate and marks a new phase for the business, which has spent more than two decades building its retirement fund administration and consulting operations.
Momentum said the acquisition would strengthen its employee benefits offering and allow Verso’s specialist expertise, experienced team and established client relationships to be leveraged across a larger corporate platform.
Dumo Mbethe, CEO of Momentum Corporate, said the company had developed a strong foundation over the past 26 years.
“Verso has built a business grounded in specialist expertise, strong client relationships and service excellence,” said Mbethe.
“Bringing Verso into Momentum Corporate allows us to build on that foundation and create further opportunities to support the evolving needs of our clients.”
The companies said Verso would continue serving its existing clients during the transition, with current service arrangements remaining in place.
They will also focus on maintaining service continuity during the integration of the businesses.
For Momentum Corporate, the acquisition forms part of its continued investment in employee benefits and retirement services.
The company said bringing Verso into the group would strengthen its ability to support employers while helping retirement fund members build long-term financial security.
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