UK-based fintech company, Fiskl, an SME invoicing, expense and time management app has launched in South Africa to significantly strengthen its presence across Africa.
“Africa is the perfect environment for Fiskl to thrive,” says co-founder and CEO of Fiskl, Alina Lapusneanu: “The continent is home to many rapidly-growing economies that have seen small to medium sized enterprises flourish. And, of course, the mobile phone is one of their most critical business tools. Using the app, business owners can manage everything, and we are extremely excited about the opportunities to bring these capabilities to Africa’s small businesses together with Ocean on 76.”
The launch, done in partnership with local fintech player Ocean on 76, will go a long way to realise it’s goal of making modern mobile business software available to the more than 350 million small businesses worldwide.
Fiskl also aims to work with one of South Africa’s largest telecommunications network provider who is releasing the Fiskl app as a service to its SME customers. The network operator boasts a customer base of more than 100 million across Africa.
Mhlanga says that Africa, with a population of more than 1 billion people and predictions of a mobile phone population of nearly 650 million by 2025, Ocean on 76 knows where the consumers of tomorrow are to be found: “Strategic investments such as Fiskl’s will enable increased fintech innovation and unlock value by democratising enterprise-grade technology.”
He says that Africa hosts some of the fastest-growing economies and has ambitious entrepreneurs who have embraced the mobile technologies and services: “Fiskl is exciting because it is a solution that will have meaningful impact on small business owners’ ability to improve their operations.”
“Over the next 20 years, due to technological changes and population growth, new jobs will be primarily created by micro-SMEs. Fiskl’s financial and business management platform is a tool that can help these micro-SMEs improve their chances of survival,” Lapusneanu says.