The FinTech landscape in South Africa is characterised by gender disparity as many women still don’t have a seat at the table, especially when it comes to entrepreneurship and business. You could assume that the African continent is still on the back burner as it pertains to the latest technologies, terminologies and disruptive success stories aligned with growth and access to financial inclusion – but this assumption is fast changing as we constantly bring world-class technology and solutions and launch them into the African continent.
It is prudent to acknowledge the gaps and highlight the height and depth of the strides that have been made in the FinTech space, particularly by women.
We’ve come a mighty long way
Over the past five years, VodaLend has seen over 1000 small businesses that would have otherwise been rejected by mainstream financial institutions access funding that has enabled their businesses to thrive.
From tuckshops to small spaza shops operating in our different townships, access to financial inclusion under fewer terms at low repayment rates has been a dream many entrepreneurs have come to realise by way of our two business financial products:
These products enable businesses to scale, pay salaries, increase stock volumes and have cash on hand to cater for other overhead costs.
What remains undeniable across a multitude of sectors of trade is that women understand the assignment and are making notable strides in the FinTech space and true enough as an assertion, “Africa’s time is now!”
As we celebrate Women’s Month, we are once again reminded of the remarkable power women have and how bright the future looks at the helm of their skills and leadership.
Suzanne Claasen, Executive Head of Finance at Vodacom Financial Services says, “I think it is very exciting being involved in an industry that is driving financial inclusion using innovative technologies, products and services. As Fintech is a recent emerging industry, it does not have a lot of gender bias therefore there is more room for women in all its areas.’’
Nadine Nagooroo, Managing Executive of Governance Risk and Compliance believes, “Women bring a different kind of magic to the fintech industry. I am privileged to be a part of an innovative team where women are not just celebrated but we hold the majority of the EXCO roles and have the privilege of being led by a female CEO, Mariam Cassim, who is passionate about driving innovation through financial inclusion which is evident across the suite of products in the Vodacom Financial Services portfolio.’’
Making access to financial inclusion possible
Through our VodaPay card machines, businesses can pre-qualify and apply for the business finance they need which takes away the stress of looking for funding away from them as they focus on building their businesses while contending like winners in business circles.
As far as things go, businesses alike experience the ease of applying for business loans without the worry of a huge debt that they cannot manage or paperwork that is hard to comprehend. This is our way of encouraging more women to take the plunge into business as we have committed ourselves to provide business funding along the way.
- Click here to see if you have been pre-approved for Business Cash Advance.
We have made access to business funding more accessible through a quick and easy process that allows you to get up to R5 million in funding within 24 hours. This option is available to business owners with a turnover of R40k a month or R500k a year.
- Do more for your business. Click here to apply for Business Term Advance today.
We are not only driving financial inclusion…
To make the future even brighter, young people especially girls can take up the challenge by starting at the early stages of their schooling lives. According to a UNESCO report, only 35% of STEM students in higher education globally are women. Since 2017, Vodacom's #CodeLikeAGirl initiative has since trained thousands from across Africa with a vision of reaching 4000 girls by the end of this financial year.
Young people need to prioritise subjects connected to business, technology, accounting, and finance as a step towards enlarging the territory already earmarked by women in the FinTech terrain. Beyond driving financial inclusion, Vodacom Financial Services is steadily positioning itself as the employer of first choice and this is a great opportunity that young people can tap into.
- Learn more about Vodacom Financial and Digital Services by following our LinkedIn Page Here.
