Telecom

eGroupX Launches in South Africa, Blending Fintech and Telecom Solutions

eGroupX Launches in South Africa, Blending Fintech and Telecom Solutions
Friday, 06 December 2024 18:44

Underserved communities in Africa usually face key challenges in the financial and telecoms landscape. Leveraging innovative technology and partnerships can help in addressing these most pressing socio-economic challenges.

EGroupX, a fintech and connectivity firm, has launched in South Africa’s financial and telecom sector, offering services like a mobile virtual network operator (MVNO) and digital platforms to address financial inclusion and connectivity gaps. Business Tech Africa reported that the group launched on November 29.

“Our mission is to reshape financial services in South Africa and empower millions of people to take control of their financial futures,” said Saud Ally, CEO of eGroupX.

eGroupX operates as a fintech and connectivity ecosystem, offering services across banking, remittances, insurance, telecoms, internet services, cryptocurrency, and forex trading. With a presence in Kenya, Nigeria, Zimbabwe, and Angola, the company seeks to enhance accessibility and affordability for millions of low-income households, SMEs, and informal merchants in South Africa.

At the core of its offerings is eMobile, a mobile virtual network operator (MVNO) service leveraging a partnership with a leading South African telecom provider, yet to be disclosed. eMobile delivers cost-effective voice, data, and mobile banking solutions.

Alongside eMobile, eGroupX offers DoshFX, a cryptocurrency platform for trading and managing digital assets; eZiFX, a forex transfer service for cross-border transactions; eSure, affordable insurance for low-income consumers; eZi Transact, a payment platform for SMEs and informal merchants; and Hola Data, a high-speed internet provider with transparent pricing.

eGroupX's integrated ecosystem not only addresses financial and digital inclusion but also aligns with South Africa's broader economic and digital transformation goals. Its services provide a foundation for improved access to financial tools, connectivity, and economic opportunities, empowering individuals and businesses to thrive in an increasingly digital world.

The World Bank’s Global Findex Database 2021 reports that 85% of South African adults have accounts with financial institutions or mobile money providers. However, many lack active engagement with these accounts.

EGroupX aims to address this gap by offering affordable tools like eMobile and digital financial platforms, enabling underserved populations to better utilize financial services. This could boost economic participation, reduce inequality, and support sustainable development in South Africa.

Hikmatu Bilali

Editing by Sèna de Sodji

On the same topic
• Paratus launches satellite connectivity for schools in 7 African countries• The solution includes Starlink hardware, local support, and 2 TB of monthly...
• New school to train engineers in AI and digital transformation fields• Initiative aligned with “Digital Morocco 2030” strategy targeting 100,000 trained...
With an August deadline looming, tower operators face mounting pressure to resolve operational weaknesses or face penalties, including fines and potential...
The announced reforms are pivotal in expanding affordable connectivity, building a future-ready digital workforce, and establishing Ghana as a frontrunner...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.