The World Bank estimates that small businesses constitute 90 percent of all businesses worldwide. In sub-Saharan Africa alone there are 44 million small businesses, with small and medium-sized enterprises (SMEs) accounting for 60 percent of jobs. In South Africa there are approximately 3.2 million SMEs, which make them the backbone of the economy with a
Payments infrastructure company Stitch to offer all available direct bank APIs as part of its Pay by bank solution, including Absa Pay, Capitec Pay and Nedbank Direct EFT Payments infrastructure company Stitch today announced that it will partner with Absa, one of South Africa’s leading banks, to make the newly launched Absa Pay available to
Paycorp, a global leader in payment solutions, continues shaping the future of payments across Southern Africa, Central and Eastern Europe, and the UK. With over two decades of experience, Paycorp stands as an acknowledged innovator, leveraging a collaborative and integrated ecosystem, blending expertise, reliability and agility in transaction processing, cash management solutions, value-added services like
We are delighted to find individuals and organisations who truly understand the benefits of using QR Codes to trigger many customer experiences, from loading websites to executing payments between consumer and merchant. Zapper has been doing the latter since its inception in 2013, and its popularity rose significantly in the early years when the novelty factor
Kazang, the micro-merchant division of JSE-listed fintech company Lesaka Technologies, has partnered with Masifunde Training and Development to provide employment opportunities for disadvantaged youth and contribute to the development of South Africa’s future workforce. This collaboration aims to empower young individuals from underprivileged backgrounds by equipping them with the necessary skills and knowledge to succeed
Born and raised in the vibrant and resilient community of Soweto, Percy Maphologela’s journey from a disadvantaged background to becoming the 24-year-old founder and CEO of a revolutionary fintech firm, is nothing short of inspirational. Maphologela’s groundbreaking fintech business, stands at the forefront of innovation and harnesses the power of artificial intelligence (AI), asset tokenisation,
Despite the global move towards digital transacting, 1.4 billion people worldwide remain unbanked. It’s these individuals that payment service providers like Spenda are empowering through the use of innovative payment solutions that address the financial inclusion gap. In its latest move to do so, Spenda has integrated Scan to Pay to launch Spenda Scan to
Entersekt, The Financial Authentication Company, has announced that PAPE funds (PAPE) has expanded its investment in the company. Following an initial investment in July 2022, PAPE Fund 3 recently acquired Nedbank Private Equity’s equity stake in Entersekt, increasing its total investment and ownership stake. Nedbank Private Equity is a division of Nedbank Corporate and Investment
South Africa’s greylisting by the Financial Action Task Force (FATF) in early 2023 has created significant economic challenges. The development tarnishes the country’s reputation, causes delays and higher costs in international transactions, and potentially deters inbound foreign investment. But the good news is that the damage to the country’s international standing and economy needn’t be
By Dave Glass, CEO and Co-Founder of Electrum Banks in South Africa face a difficult decision over their reliance on an outdated language system. Back in the 80s, I was very lucky to be exposed to early home computers – my astrophysicist dad was an early adopter. I can recall excitedly writing my first programmes
