When great minds meet to share ideas, more so in this era of digital innovation and being technologically savvy, out comes one of the most sought-after tools – this time the result was mojaPay.
MojaPay is part of Asante Digital Group of companies and is a 100% black-owned digital innovation entity that was established by Xolisa Vuza and Kagisho Dichabe two years ago.
The duo formed mojaPay to empower financially excluded masses, unbanked and underbanked individuals, merchants and businesses servicing merchants with digital payment processing and product distribution tools and enhancing their ability to be financially included.
MojaPay operates across banking, telecoms, utilities, health, engineering, insurance, and public sectors spaces.
“We supply these tools to businesses that have like-mined objectives and goals as ours. Being born in the rural and township areas, it has always been clear to us how difficult it was to be what we refer to today as ‘financially included’. Everything happens in a central place called the town or transactions are all in cash,” says Vuza.
“This brings to the fore two elements we are trying to solve – the excessive handling of cash transactions and lack of understanding in terms of who has access to money, including general risks and costs associated with handling cash.”
His business partner, Dichabe, says: “The other element that gave rise to mojaPay is the evident trend of transactions moving towards being executed anywhere, anytime on mobile devices, as well as the growing trend in mobile usage and
internet penetration in the African continent.
“All of this data told us we needed to be working in solving the challenges and taking advantage of the opportunities, while also looking to empower our marginalised masses.”
Vuza and Dichabe, born in the Eastern Cape and Free State respectively, are in their early 40s. They met while working for one of the largest banks in Africa, where they were tackling architecture-related issues and later embarked on different consulting and business initiatives, allowing both to gain complementary experience required to do what they do.
“We simply decided one day that it’s about time. The success of our business helped us to be a major player in enabling simple and cost-effective trade and e-commerce among Africans and businesses of all sizes, especially the informal market, while creating opportunities for fellow Africans to generate income.
“This means achieving licensing and partnerships in key African markets and in developing countries around the world,” says Dichabe.
“There are many payment platforms in the market. What’s unique with us is we are not only a payment platform but a digital production and distribution entity.”
For more business news from Sunday World, click here.
Follow @SundayWorldZA on Twitter and @sundayworldza on Instagram, or like our Facebook Page, Sunday World, by clicking here for the latest breaking news in South Africa. To Subscribe to Sunday World, click here
