First Global signs mobile payments deal with Hidase Telecom through license partner

TSX Venture Exchange: FGD

TORONTO, Dec. 13, 2016 /CNW/ - First Global Data Limited ("First Global" or the "Company") is pleased to announce that through its license partner, it has signed an agreement with Hidase Telecom to launch mobile payment services in Ethiopia.

The mobile payment solution will complement Hidase's existing distribution network and enable Hidase's current 20 million plus users to top up mobile phones without having to purchase minutes at storefronts. First Global will also be working closely with Hidase Telecom to deploy an ecosystem which will enable the Hidase customer base to perform a variety of other transactions such as bill payment, local peer to peer money transfers, travel (airline, hotel, bus, and taxi) and to receive remittances from overseas.

"I traveled to Ethiopia and met with the CEO and Board of Directors of Hidase Telecom. They are thrilled with the new mobile payment service as it adds a higher value proposition for both Hidase and First Global" said Nayeem Alli, the Company's Chief Financial Officer.

About First Global

First Global is an international financial services technology (FINTECH) company. The Company's two main lines of business are mobile payments and cross border payments. First Global's proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, money transfers, shopping and peer to peer payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE First Global Data Limited

For further information: Andre Itwaru, Chairman and Chief Executive Officer, Telephone: 416.504.3813, Facsimile: 416.504.7092, Email: ir@firstglobaldata.com

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