READ NEXT: Africa’s VC industry growing slowly: $4. The company aims to expand across additional strategic jurisdictions across Africa, including Lesotho, Ghana, and Kenya.Īccording to a media release, Paymenow is a company that is “inspired by people and powered by technology.” Their responsible EWA fintech empowers staff by giving them access to their already earned wages through a mobile app and website while promoting responsible financial behaviour and encouraging a saving culture. Paymenow is the first EWA provider to launch in Namibia and Zambia, with accelerating traction in both the private and public sectors. Nobrega stated, “Our objective is to ease the burden inflicted by unregulated short-term money lenders through affordable, real-time access to earned wages and to educate and assist South Africans in reaching their financial goals.” 83% of customers said their ability to save had improved, and 95% customers had been able to reduce borrowing from money lenders, while 83% had more cash on hand to deal with emergencies. RMB is an indirect shareholder in Paymenow through its shareholding in the DNI Group and has expressed its commitment to continue partnering with Paymenow holistically, enabling Paymenow to grow, innovate, and make a positive impact on society through financial education and financial wellness.Īccording to a recent impact report based on independent research conducted among 400 Paymenow customers, almost all respondents reported an improvement in their overall quality of life because of Paymenow, and nearly two-thirds reported significant improvements. This system assists employees who need access to a portion of their salaries – typically for transport, groceries, and utilities – as and when they earn it. Paymenow’s hybrid salary model allows employers to offer their staff the flexibility of monthly, weekly, or even daily payrolls. Access to funding, such as through the agreement with RMB, is a gratifying acknowledgement of the strength of our model, and a key enabler of our future growth.” “As such, the population of people looking for access to liquidity is enormous, and our ability to provide this liquidity without compromising financial health is having a remarkable positive impact. Venture Towns (2022) is a simulation management game. Developer Information Release Notes Venture Towns Kairosoft Co.,Ltd 5.99 4.0 Ratings 227+ Reviews About Venture Towns 227+ Ratings Its the best game in my opinion. Paymenow Group chief executive Deon Nobrega said, “There is tremendous demand for Paymenow’s services in South Africa, which has 25 million active credit customers, of whom more than 10 million are behind on their payments. The company currently serves over 200 000 employees, with growth projections set to double in the next year. The groundbreaking agreement follows Paymenow’s impressive growth in the retail, mining, security, cleaning, and facilities management industries.
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