Small and Micro Enterprises (SMEs) form the cornerstone of the South African economy, catalysing local job creation and community development. To address their critical need for efficient credit management systems, Teboho Twala, a seasoned entrepreneur, introduces ZAKHAA, a ground-breaking fintech solution designed to foster economic inclusivity while facilitating seamless business transactions.
ZAKHAA emerges as a pioneering business solution, proudly crafted within the South African fintech landscape. Positioned as a catalyst for financial and economic inclusivity, this innovative start-up aims to revolutionize credit management for SMEs operating in underserved and predominantly unbanked markets.
Teboho Twala, the visionary mind behind ZAKHAA, brings a wealth of entrepreneurial experience to the table. With a background spanning diverse sectors including mining, commercial property, and hospitality, Twala’s journey from a street-kid to a self-made businessman underscores his unique insight into both customer needs and business operations. Currently pursuing a Masters in Entrepreneurship and New Venture Creation at Wits Business School, Twala remains committed to driving innovation and empowering small businesses.
Sophisticated credit management system tailored for small businesses, offering a range of benefits:
1. Streamlined Credit Application: The ZAKHAA platform facilitates a simple, convenient, and paperless credit application process through smart card payment machines, empowering SMEs to extend credit seamlessly.
2. Flexible Debt Collection: With cost-effective and flexible debt collection arrangements, ZAKHAA ensures adaptability to various customer affordability levels, enhancing the chances of debt recovery for small businesses.
3. Credible Record-Keeping: By maintaining a comprehensive debtor’s book, ZAKHAA provides small businesses with a valuable asset for securing short-term business loans, thus optimizing cash flow management.
The ZAKHAA Credit Management System (CMS) operates through a seamless four- step process, leveraging smart, multifunctional mobile payment machines and a user-friendly app compatible with Android devices.
This innovative approach formalizes incidental credit transactions, providing small businesses with a secure lending framework while facilitating easy access to short-term business loans through strategic partnerships with micro-lenders. Twala emphasizes the importance of ZAKHAA in addressing longstanding challenges faced by small businesses, particularly in managing and recovering incidental loans. By empowering entrepreneurs with a reliable and efficient solution, ZAKHAA enables businesses to secure sales effectively.
