By 
(Ecofin Agency) – Underserved communities in Africa usually face key challenges in the financial and telecoms landscape. Leveraging innovative technology and partnerships can help in addressing these most pressing socio-economic challenges.
EGroupX, a fintech and connectivity firm, has launched in South Africa’s financial and telecom sector, offering services like a mobile virtual network operator (MVNO) and digital platforms to address financial inclusion and connectivity gaps. Business Tech Africa reported that the group launched on November 29.
“Our mission is to reshape financial services in South Africa and empower millions of people to take control of their financial futures,” said Saud Ally, CEO of eGroupX.
eGroupX operates as a fintech and connectivity ecosystem, offering services across banking, remittances, insurance, telecoms, internet services, cryptocurrency, and forex trading. With a presence in Kenya, Nigeria, Zimbabwe, and Angola, the company seeks to enhance accessibility and affordability for millions of low-income households, SMEs, and informal merchants in South Africa.
At the core of its offerings is eMobile, a mobile virtual network operator (MVNO) service leveraging a partnership with a leading South African telecom provider, yet to be disclosed. eMobile delivers cost-effective voice, data, and mobile banking solutions.
Alongside eMobile, eGroupX offers DoshFX, a cryptocurrency platform for trading and managing digital assets; eZiFX, a forex transfer service for cross-border transactions; eSure, affordable insurance for low-income consumers; eZi Transact, a payment platform for SMEs and informal merchants; and Hola Data, a high-speed internet provider with transparent pricing.
eGroupX’s integrated ecosystem not only addresses financial and digital inclusion but also aligns with South Africa’s broader economic and digital transformation goals. Its services provide a foundation for improved access to financial tools, connectivity, and economic opportunities, empowering individuals and businesses to thrive in an increasingly digital world.
The World Bank’s Global Findex Database 2021 reports that 85% of South African adults have accounts with financial institutions or mobile money providers. However, many lack active engagement with these accounts.
EGroupX aims to address this gap by offering affordable tools like eMobile and digital financial platforms, enabling underserved populations to better utilize financial services. This could boost economic participation, reduce inequality, and support sustainable development in South Africa.
Hikmatu Bilali
Editing by Sèna de Sodji
Comments