NettCash parent company, Mozido, opens Africa HQ in Johannesburg

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:

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.