Specialist fintech and comms companies target Africa’s SMEs

Specialist fintech and comms companies target Africa’s SMEs

Recent deals in Kenya and South Africa have highlighted the continuing expansion of the African SME market and the growing number of African fintech and specialist communications companies serving SMEs.

From Kenya comes news that digital banking fintech start-up Kwara has partnered with employee payment group Workpay to offer savings and credit co-operative societies (SACCOs) in Kenya human resource management and payroll processing solutions.

The partnership will enable SACCOs to automate their human resource (HR) processes as a complimentary service to Kwara’s products, which include core banking, online and mobile banking and open API services.

Through the partnership SACCOs will be able to carry out seamless payroll processing into SACCO accounts and enjoy access to an HR module for efficient management of their staff. This will conveniently allow them to manage their HR functionalities such as time and attendance, leave management, payroll processing, compliance and performance management for their employees.

This partnership is described as a strategic initiative to drive digitisation of SACCOs through leveraging on both Kwara’s and Workpay’s proven strengths in the digital banking and HR space.

Meanwhile, South African news and information website Independent Online reports that FNB Connect, a mobile virtual network operator and a business unit within FirstRand Bank Limited, has partnered with local internet service provider Vox Telecom to launch a fibre solution to help SMEs with their telecommunications needs.

FNB Connect is also introducing new software vouchers, including Microsoft 365 and antivirus solutions such as McAfee and Norton.

FNB Connect Vox Fibre for Business is available to all FNB Business account holders, including sole proprietors, while the software vouchers are available to all FNB and RMB Private Bank customers.

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