Readen Holding to acquire 80% stake in Nigeria’s Morrich Lottery Limited
Readen Holding signs deal to supercharge Nigerian lottery operations with blockchain-powered Readies payment platform.
Lagos, Nigeria – In a bold move that fuses fintech firepower with Africa’s fast-growing gaming market, venture-capital giant Readen Holding Corporation (RHCO) has announced a Memorandum of Understanding (MOU) to acquire an 80 per cent stake in Morrich Lottery Limited, a licensed Nigerian lottery operator.
The deal signals RHCO’s strategic leap into the African continent, aligning with its global fintech ambitions while placing its blockchain-driven Readies payment platform at the heart of a major market expansion.
Under the agreement, RHCO will lead Morrich’s transformation from a traditional lottery operator into a dynamic, tech-powered player. This includes expanding into Keno and scratch card lotteries, with eyes on casino gaming pending regulatory green lights.
Hybrid payment system
But the real game-changer? The integration of Readies (RHCO’s hybrid payment platform) into every aspect of Morrich Lottery’s operations. Built by RHCO’s Czech subsidiary, Finexeble S.R.O, Readies combines the best of traditional finance with the speed, security and flexibility of cryptocurrency. Its features include lightning-fast cross-border transactions, advanced fraud protection and seamless fiat and crypto support.
“This partnership not only strengthens our position in the global gaming industry but also brings the Readies platform to a vast and fast-growing consumer base in Africa,” said Ridzky Berg, CEO of RHCO.
“By embedding Readies into all of Morrich’s lottery operations, we’re creating a robust digital payment ecosystem that supports financial inclusion, enhances user experience and reinforces our long-term fintech strategy.”
Due diligence period
The MOU kicks off a six-week due diligence period, during which RHCO will dig deep into Morrich’s financials and operations. An exclusivity clause ensures Morrich Lottery won’t entertain offers from other suitors during this window. If all goes well, the partnership could be finalised within weeks.
The move also highlights Nigeria’s role as a gateway into Africa’s broader digital economy. Morrich, already licensed to operate nationwide, is ideally positioned to scale its offerings with the backing of RHCO’s tech and capital muscle.
With over 30 years of operational experience and a growing portfolio of fintech, e-commerce and digital payments, RHCO continues to build out its global footprint. Its Readies platform is already redefining payment standards across Europe and Asia – now it has set its sights on the untapped potential of Africa.
