African fintech company Zoona has announced that it has crossed an important milestone in its history, but also for mobile money and financial inclusion in Africa.
Since launching in 2009, the mobile payments company, has processed over $1 billion in money transfers, bill payments and other financial services through its network of entrepreneur agents.
Zoona develops a fintech platform which enables entrepreneurs to provide mobile money services to unbanked or underbanked consumers. Zoona has been described as bringing the Uber model to mobile finance and remittances industry.
The company’s entrepreneur agents serve more than one million customers every 60 day, across close to 1,500 locations. Zoona’s iconic green booths have become a staple across the landscapes of Zambia and Malawi, where it operates.
Mike Quinn, Zoona's CEO, said that: "Zoona was born from an idea in a text message. Today we have an important milestone on our journey to become a billion dollar business that helps communities thrive."
He added that: "This milestone is a result of focusing on what really matters: ensuring our customers never bounce at a Zoona Agent. We will continue to work tirelessly to achieve this goal by building the most trusted agent network in the market so that people can send and receive money when they need to most."
South Africans encouraged to buy local
It is vital that more South Africans opt to support local businesses and manufacturers in the midst of the current economic conditions.
This is according to Simon Colman, head of Liability Underwriting at SHA Specialist Underwriters, who states that in order for the country to reach its growth and employment targets over the next five to 10 years there simply has to be a bigger focus on local producers. "Importing products and services when the local currency is under strain, makes no sense when local, quality alternatives exist."
During his keynote address at the annual Proudly SA, "Buy Local" summit in Johannesburg last week, Deputy President Cyril Ramaphosa also highlighted the need for the government and big businesses to buy locally produced goods to support our local economy.
"Evidently it is not just up to consumers to support local retailers and manufacturers but big corporates should also recognise their responsibility in this matter and aim to utilise entrepreneurs and independent local businesses in their own supply chains too," says Colman.
Growthpoint’s Property Point enterprise development programme celebrates its 10 SME graduate
Ten small businesses have graduated from a two-year enterprise development incubation programme offered by Property Point: a Growthpoint Initiative.
These companies, which all offer skills and services for the property industry, are: BLK Construction owned by Kabelo and Khomtjo Mopai; Clear Path Projects owned by Xolisile Nkosi; Creative Axis Architects owned by Anil Parshotam and Bhavik Ranchod; Good Future Painting owned by Irene Thembo; Integrico owned by Lettie Ngobeni; Lady T Protection Services owned by Thando Baloyi; Makasela Air owned by Thiyani Khoza; Nopa Cleaning & Projects owned by Pamela Nyingwa and Nokhwezi Booi; SKS Business Solutions owned by Siphiwe Zwane; and Thatego Holdings owned by Thabo and Dorcas Malefetse.
Their success was celebrated the graduation ceremony held in Sandton Central where Estienne de Klerk, MD of Growthpoint Properties, commended the entrepreneurs’ hard work, determination and perseverance, and congratulated the companies on graduating from the intense Property Point incubation programme.
"It is incredibly rewarding to see the progress of our Property Point class of graduates and the economic stimulation coming out of the programme. In the last year alone, our graduates have achieved 35% growth in revenue, created 134 sustainable jobs and received 557 hours of training. These are the building blocks of success that Property Point grows each year," says de Klerk.