A year since launching, uKheshe, South African based microtransaction platform, announced this week that it has over 300 000 users to date – the company has now set its sights on a growing base of users and a diversified product offering covering cash cards, health and insurance benefits cards.
Clayton Hayward, co-founder and CEO of uKheshe, says that the first year has exceeded all expectations: “As a start-up you never quite know how the business idea will be received, but with financial inclusion becoming both a local and global imperative, uKheshe has been embraced not only by users but the fintech market too. We could not have asked for a better first year in business”.
In order to make an impact within the financial inclusion sector, uKheshe took to the local streets with CGAP – a global think tank that works to advance the lives of poor people through financial inclusion. UKheshe showcased its cash card and the impact this has on the informal economy: “Witnessing the impact of digitising merchant payments enables organisations such as CGAP to fully appreciate the potential solutions like uKheshe have to make a difference and improve financial and social inclusion which is a growing concern for many countries,” says Hayward.