Abu Dhabi’s International Holding Company (IHC) is widening its remit in both the fintech and the food sectors with two separate acquisitions. The company yesterday acquired a 70% stake in Dubai-based fintech and platform-as-a-service firm Peko Holdings, according to an ADX disclosure (pdf), while the subsidiary of its agriculture and food arm Ghitha snapped up a 70% stake in local fresh food and vegetable producer Taaza Healthy Food Industries as well as its trading arm, Taaza Quality Foodstuff Trading, according to a separate disclosure (pdf).

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Peko’s platform offers payments, payroll, invoicing, corporate cards, compliance, and expense management for SMEs — a key target market for IHC. The platform operates on a subscription-based revenue model and uses AI to automate routine processes for SMEs.

The acquisition is part of IHC’s broader plan of investing in scalable, tech-driven businesses SMEs, with potential for regional and international expansion. The conglomerate recently invested USD 715 mn into its recently acquired digital financing platform Zelo to expand financing services for SMEs, addressing delays the sector faces in accessing funds.

Meanwhile, Ghitha’s subsidiary NRTC Group’s acquisition of Tazaa expands its footprint in the organic and clean-label food segment and comes as part of a broader consolidation strategy. This is the group’s second acquisition this month, following its takeover of homegrown brand Ripe Organic. Other regional moves include its acquisition of Egypt’s Al Hashemeya Farms, a 70% cultivated, 10k-feddan farm yielding over 70k tons of crops annually.

Background: Last month, IHC merged Ghitha Holding into a single entity alongside 2PointZero and Multiply in a bid to create an energy and consumer-focused investment powerhouse.

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