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Update With Respect To Easyequities’ Partnership With E-Wallet Provider In Asia Pacific Region
Purple Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE ISIN: ZAE000185526
(“Purple Group” or “the Company”)
UPDATE WITH RESPECT TO EASYEQUITIES’ PARTNERSHIP WITH E-WALLET PROVIDER IN ASIA PACIFIC REGION
Shareholders are referred to the announcement released by Purple Group on SENS on 19 August 2022 in relation
to its partnership with an e-wallet provider in the Asia Pacific Region.
Purple Group is pleased to announce that EasyEquities, has partnered with GCash, the largest and fastest growing
mobile wallet in the Philippines, to bring managed portfolios of US shares to all Filipinos. GCash has over 70 million
active clients.
The launch of this exciting partnership will be preceded by a Fantasy Investing Game expected to launch in June
2023. The game will run for a minimum of six weeks and will allow GCash clients to try their hand at investing in
real markets with fantasy money. The game is designed to educate and familiarize Filipinos with investing in the US
stock market, while also providing a fun and engaging experience as all players have the chance of winning prizes
for competing and providing feedback on the platform. This is the same successful strategy EasyEquities used to
launch in South Africa.
In the Philippines, the Securities and Exchange Commission (SEC) is the primary regulatory body overseeing
securities and investments. The SEC is responsible for enforcing the securities laws, protecting investors, and
promoting the development of a fair, transparent, and efficient securities market. In this regard, GCash and
EasyEquities have been meeting with the SEC regularly to ensure compliance and approval to launch the real
product as soon as possible.
The SEC played a pivotal role in bringing these parties together to launch the fantasy investment game as a way to
educate, engage, and build confidence in the platform and investing for first time investors.
“The partnership of two market-defining fintech companies can help revolutionize the investment landscape in the
Philippines by making it a more accessible, friendly and affordable activity for everyone,” said Martha Sazon,
President and CEO of Globe Fintech Innovations Inc, owner of Gcash.
Johannesburg
19 April 2023
Company Secretary: 4 Africa Exchange Registry Proprietary Limited
Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited
Date: 19-04-2023 01:35:00
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