Standard Bank-backed fintech Nomanini plans Ghana, Zimbabwe, Egypt expansion

By David Whitehouse
Posted on Thursday, 15 September 2022 06:00

Africa's informal merchants need digital solutions. REUTERS/Afolabi Sotunde

Nomanini, a South African fintech supplying digital commerce solutions to informal traders, is planning to expand to Ghana, Zimbabwe and Egypt, CEO Vahid Monadjem tells The Africa Report.

The company is currently seeking $5m in equity to finance its growth, with a larger debt round for $20m to $40m planned in the next 18 months. Launches in Zimbabwe and Ghana are set to take place this year.

Set up in 2010, Nomanini provides till-point services for informal retailers, and supplies credit to enable them to free up working capital. The company’s tool can be used by merchants to integrate third-party inventory management and employee payroll systems.