IKHOKHA IS ONE OF THE FASTEST GROWING FINTECH COMPANIES IN AFRICA AND IS REDEFINING THE WAY SMES DO BUSINESS THROUGH MOBILE.
INTELLIGENT BRANDS // Software for Business
Fintech company iKhokha stages iKhokha Elevate for South African SMEs
iKhokha provides an array of affordable, easy-to-use solutions and tools which enable seamless payment processing, quick access to business funding, invoicing, inventory and stock management, and financial reporting, all in one integrated platform.
In a highly competitive market, iKhokha has distinguished itself by providing the best support, the fastest payment processing, the quickest payouts through iK Debit Cards, and the most accessible funding options in South Africa.
( Left to right) Ramsay Daly, Christian Mkhize, Jabu Malungane, Matt Putman, June Omondi and Graeme Cumming at the Elevate event in Durban
iKhokha, the fintech company dedicated to fostering growth for South African small businesses amid challenging macroeconomic conditions, hosted its first iKhokha Elevate event in Durban on Wednesday, 12 March. The event, which saw hundreds of merchants attending in person and thousands more joining online, centred around discussing the challenges and successes of small businesses.
It also marked the official launch of iKhokha’ s full business ecosystem, reinforcing their mission to become the operating system for SMEs in South Africa.
“ At iKhokha, we help SMEs believe in building a better future. Our mission is to promote financial inclusion by developing and delivering business tools for all entrepreneurs. Our ecosystem goes beyond providing card machines, with our SME operating system designed to empower small businesses and entrepreneurs with the knowledge and tools they need to help their businesses flourish and grow in South Africa,” says iKhokha Co-Founder and CEO, Matt Putman.
iKhokha Elevate, which was held at iKhokha’ s head office in Umhlanga, focused on three essential pillars for SME success: cash flow, digital commerce and business management. Highlights of the event included feedback from business owners and entrepreneurs who have overcome challenges, built successful businesses, and leverage the right support, tools and resources to drive growth and resilience in their ventures.
As a start-up founded in 2012, iKhokha is one of the fastest growing fintech companies in Africa and is redefining the way SMEs do business through mobile innovation. iKhokha’ s financial services platform empowers entrepreneurs to accept both in-person and online payments, as well as providing access to working capital and a portfolio of easily accessible business management tools to streamline processes and support growth.
To date, iKhokha has processed over 307 million card transactions, put more than R2 billion in business owners’ hands through their iK Cash Advance offering, opened 16 iKhokha stores nationwide and developed 17 tools to enhance business operations.
According to a recent survey conducted by iKhokha, 63 % of merchants reported difficulties in scaling their inventory system, while 72 % highlighted cash flow issues as a significant challenge. Additionally, over half of South African businesses are not using financial management software, which can complicate their operations.
These included Jabu Malungane, founder of Jabu Atchar. His business, which is based in Thembisa, Gauteng, has grown from selling mango atchar outside shopping malls to now distributing through retail customers in Eswatini, Botswana and Lesotho, with Jabu selling locally through certain Pick‘ n Pay and Spar outlets as well as in various fruit and vegetable markets. p
IKHOKHA IS ONE OF THE FASTEST GROWING FINTECH COMPANIES IN AFRICA AND IS REDEFINING THE WAY SMES DO BUSINESS THROUGH MOBILE.
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