COVID-19 Delays TymeBank’s Partnership With ZCC

TymeBank, a digital bank that is owned by billionaire Patrice Motsepe, announced on Tuesday that its partnership with the Zion Christian Church (ZCC) has...

Latest Posts

Are You A FinTech Entrepreneur? AlphaCode’s Applications Open For R10m Programme

Applications are open for the next AlphaCode Incubate programme which aims to identify, partner and grow innovative financial services entrepreneurs. Successful applicants will receive...

Vula Mobile App Revolutionising Rural Healthcare Services

In rural South Africa, a lack of access to healthcare is a daily reality for so many people. Even when a clinic is nearby,...

Lumkani Wins R20 Million And Aims To Use Cash to Expand its Shack Fire Detection Tech

South African firm  Lumkani has received €1,000,000 (just under R 20 million). Lumkani is a low-cost solution providing community-wide alerts for fires in informal...

How to Grab Your Piece of the Market Share

How to grab your piece of the market share “Start-ups and SMEs are continually battling to snatch a piece of the market share.” This has...

Nomanini records 1 500% growth in transactions as platform scales

Payments platform provider Nomanini has achieved 1 500% growth in transactions over 20 months as the company successfully scales its mobile point-of-sale (PoS) platform for informal markets.

Founded in 2010, Nomanini has designed a payments platform, which provides merchant aggregators with sophisticated business insights via a cloud-based platform, and merchants and micro-entrepreneurs in informal markets with the means to sell different types of services electronically and create a sustainable income.

Having hit one million transactions in August 2014, the company has seen growth of 1 500 percent since then, and recently saw the 16 millionth transaction take place on its platform. Much of this growth has been focused on Mozambique, Ghana and South Africa, and has been achieved against a backdrop of 99.99 percent uptime.

Nomanini’s CEO, Vahid Monadjem, says the explosive growth is a validation of the company’s business model and its ability to provide a valuable, relevant and efficient product at scale.

“This kind of growth is the result of our partnership model and the way in which we enter new markets by ensuring we have expert local partners on the ground. Much of this growth is focused on two or three partners, and it has proven that we can deliver a scalable platform  by combining world-class technology with local expertise,”  says Monadjem.

“To have achieved such growth with almost 100 percent uptime also demonstrates the maturity of the product and the infrastructure around it. Reaching such a landmark number of transactions would mean nothing if there were periods when merchants were unable to use the platform  and the fact that it is available to them all the time means it is a product they can trust.”

Nomanini has not been resting on its laurels in spite of its growth. At the end of last year the company launched its second generation product for informal markets – eLula – providing enterprise prepaid distributors with more sophisticated business insights as well as management tools.

Earlier this year, the company announced it had integrated with M-Pesa in Mozambique, enabled via its local country partner, Mozambique Mobile Solutions (MMS), to allow merchants to use mobile money agents to top up their virtual vending accounts on Nomanini’s PoS terminals.

Monadjem said that continuing to hone the product was vital as Nomanini looks to serve merchants in informal markets.

“As we deploy more and more terminals, merchants are referring them to other merchants. It is becoming less about training people to use something new, and more about showing them something they have already heard good things about.

“There’s a latent demand for this kind of technology and this kind of service. People want this and are ready to take it up. But you need the right partners, the right people, and the right value proposition.”

Latest Posts

Are You A FinTech Entrepreneur? AlphaCode’s Applications Open For R10m Programme

Applications are open for the next AlphaCode Incubate programme which aims to identify, partner and grow innovative financial services entrepreneurs. Successful applicants will receive...

Vula Mobile App Revolutionising Rural Healthcare Services

In rural South Africa, a lack of access to healthcare is a daily reality for so many people. Even when a clinic is nearby,...

Lumkani Wins R20 Million And Aims To Use Cash to Expand its Shack Fire Detection Tech

South African firm  Lumkani has received €1,000,000 (just under R 20 million). Lumkani is a low-cost solution providing community-wide alerts for fires in informal...

How to Grab Your Piece of the Market Share

How to grab your piece of the market share “Start-ups and SMEs are continually battling to snatch a piece of the market share.” This has...

Don't Miss

GridCars Now Official Charge Point Operator To BMW South Africa

BMW South Africa, in line with its expanded electromobility offering in the country, announced on Wednesday the appointment of established service provider GridCars as...

Naspers Takes A Stake In Food Supply Network

Naspers announced on Wednesday an investment in the food service industry with a stake in the Food Supply Network (FSN). FSN is an independent business-to-business...

Valenture Institute Secures R114-M in Investment To Expand In SA, UK, USA

Valenture Institute, a global tech-enabled high school, has secured $7 million (R114 million) investment backed by GSV Ventures. The Institute is a global online high...

Discovery Bank Signs Up 45 916 New Customers in 2020

Discovery Bank announced on Wednesday that the number of new clients was 45 916 as of 30 June 2020 versus 197 in 2019, with...

5 Lead Generation Strategies for Real Estate Agents during COVID-19

The coronavirus pandemic has severely affected global economies. Many businesses are opting for different tactics to create new opportunities and expand their client base...

Stay in touch

To be updated with all the latest news, offers and special announcements.