Mobile Point of Sale service for emerging markets Nomanini has announced today that it has been granted ZAR 4.8 million by the Industrial Development Corporation (IDC) for expansion into international markets.“Our experience with South Africa’s IDC has been fantastic. As a beneficiary of its funding, Nomanini has been able to create almost 20 direct jobs as well as many more indirect jobs through our network of local suppliers and contractors.” Monadjem encourages more entrepreneurs in South Africa to utilise the IDC’s services, saying “The representatives with whom we worked are highly capable, thoroughly diligent and extraordinarily helpful.”
Founded by Vahid Monadjem, an Iranian-American born in Germany and raised in the U.S. and Swaziland. Monadjem consulted for McKinsey in Johannesburg, South Africa where he experienced the pain consumers and Small Businesses went through minus banks accounts and in 2010 quit to start Nomanini, “anytime” in Zulu, in 2010. Nomanini is present in South Africa with projects in Kenya and Nigeria.
This round will help the Monadjem sign up more local enterprises in each market to create a locally relevant product on the company’s prepaid platform. In March this year, Noamini hired Kuda Mushambi from Google to help establish ad partnerships around its markets.