Mergence to acquire a 26% stake in 2Engage.

Mergence, a financial planner in Randburg, South Africa, agreed to acquire a 26% stake in 2Engage, a local customer reward start-up. Financial terms were not disclosed. Mergence plans to increase its stake in 2Engage by about 25% by the end of 2020, which would make it its largest shareholder, Magerman said. 2Engage’s Retail Engage unit runs rewards and loyalty programmes in supermarkets and wholesalers for low- to middle-income earners, that it says accounts for 60% of SA’s economically active population.