NettCash parent company, Mozido, opens Africa HQ in Johannesburg

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We just got a release from Mozido, the parent company of rapidly expanding local mobile payments company, NettCash, announcing the opening of a continental HQ in Johannesburg. Referring to the continental operation as Mozido Africa, the company says this represents commitment to continent with “some of the fastest growing mobile money markets worldwide.”

There are two things interesting here.

The first is that locally, Nettcash has expanded its agent network so rapidly the brand is very visible at shopping centres around the country. They have clearly been deliberate about expansion and presenting a brand that has an available agent network to consumers. The Zesa deal has also ensured that their brand is at the forefront of the new convenience of getting electricity coupons.

The second interesting thing is Mozido’s lead of African operations. It is Cuthbert Tembedza, whom you will remember from his time with Econet in Zimbabwe as its EcoCash CEO. Tembedza led EcoCash through impressive growth in subscribers, integration with locals banks and even integration with international payment platform, Mastercard. Him being behind Mozido’s push for a share of Africa’s payments market puts both NettCash and Mozido Africa on the competitions’ radar.

Here’s the full press release:

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JOHANNESBURG, South Africa—October 15th, 2015—Mozido Africa, a subsidiary of Mozido, Inc., today announced the opening of its African headquarters in Johannesburg, South Africa. This represents a key milestone in the expansion of Mozido and the company’s commitment to the continent of Africa. Africa has some of the fastest growing mobile money markets worldwide. Providing African consumers access to Mozido’s innovative platform will change how mobile money is utilized across the continent.

“Our mission is to provide financial accessibility globally. Africa is a vital region for implementing Mozido’s operations and strategically it made sense to have our regional headquarters in Johannesburg,” said Michael Liberty, founder of Mozido. “Currently, Africa leads the world in mobile money use, therefore Mozido will have both a great deal to contribute to and learn from the growing and active consumer base.”

African operations are lead by Cuthbert Tembedza, executive vice president of business development of Mozido Africa. Tembedza, a seasoned player in the mobile money space, will formulate and supervise the strategic direction for Mozido’s operations throughout the continent. Mozido Africa plans to set the standard for mobile money with innovative technology and product solutions that target the entire population of banked, under-banked and unbanked consumers.

“As long as the majority of our people do not have access to financial services, there is work for each of us to do,” said Tembedza. “To date, mobile technology has proven to be a catalyst in addressing financial exclusion. What we need now is to ensure that someday each of the 1.1 billion people in Africa have access to financial services. Mozido’s cloud-based mobile platform will help achieve that goal.”

Mozido’s mobile payments solution already benefits millions around the globe by addressing key financial payment challenges. Mozido is committed to the growing movement of innovative mobile payments technology to help future generations live well both in Africa and across the globe.

12 Comments

  1. fiend says:

    They have friends in high places

  2. macd chip says:

    Im seeing this trend more and more where Zimbos go outside the country and scout for investors, the investors stay in the background and locals becomed CEOs.

    Im not sure of the long term effects to local ownership as prescribed by law but hey, we are all looking to survive in a tough environment.

    1. Zimasset says:

      well if the guys have shareholding what’s wrong with it? Regardless this Tembedza guy was one of the best Manager Econet ever saw. Happy, humble and extremely respectful. I think he was amazing and I think he is enterprising.

      1. macd chip says:

        Im not arguing that, but lm also worried about our greedy politicians who can suddenly find law being violated if no brown envilopes changes hands.

        1. Zimasset says:

          I am with you…

    2. Tapiwa✓ says:

      Mozido bought out Nettcash in July[1]. They seem to be using it as a stepping stone to Africa’s mobile payments scene. According to Crunchbase[2], Mozido is an American company headquartered in Texas.

      If the government is against foreign companies buying majority stakes in local companies (i.e. FDI) then there is a big problem.

  3. Mazvikokota says:

    Well this company got one of the best Africans to work for them. They will have to make a concerted effort to fail…

    1. tinm@n says:

      “…this company got one of the best Africans to work for them…”

      Are you for real?

      1. Mazvikokota says:

        I think so. I do not know the guy personally but I saw what he did with EcoCash and he earned my and many others’ respect… Chakanaka chakanaka mukaka haurungwe!

        1. tinm@n says:

          That was rhetorical.

          Best African to work for them? You must be thick

          1. Mazvikokota says:

            Certainly not thicker than you. You seem to be deliberately thick though because unenge usina kunyanya kupusa zvako.

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