A new player, eGroupX, has entered the South African financial and telecommunications sector, offering a mobile virtual network operator (MVNO) service, alongside other offerings.
The fintech and connectivity group, which has offices in Kenya, Nigeria, Zimbabwe and Angola, says it has established a presence in SA to make financial and telco services more accessible and affordable for millions of underserved people.
The company brings together a network of financial and connectivity units to create an ecosystem to serve low-income households, small and medium enterprises, and informal merchants across SA.
eGroupX says it develops solutions that resonate with Africa’s financial landscape – including banking, remittances, insurance, telecoms, internet services, crypto offerings and forex trading.
Its MVNO, dubbed eMobile, leverages partnerships with telecoms providers to offer users cost-effective mobile banking and on-boarding solutions, it says.
Saud Ally, CEO of eGroupX, says eMobile offers voice and connectivity services tailored to the needs of South African communities.
“eMobile has adopted a localised approach, which includes exclusive bundles for students, small businesses and underserved areas,ensuring customers experience reliable coverage and good-quality service. The focus is on simplicity, with a seamless onboarding process and free SIM cards.
“Its focus remains on delivering accessible and affordable connectivity tailored to meet the needs of diverse communities. While eMobile’s data and connectivity services are delivered by leveraging the infrastructure of an established network provider, the provider − which is one of SA’s leading networks − cannot be disclosed at this stage,” notes Ally.
The service is live and the network operator backing eMobile will be revealed at an upcoming launch, where more details about the MVNO services will be provided, he adds.
The group’s other offering is a crypto-currency platform, also made available via its web platform. DoshFX is a secure platform for buying, storing, selling and exploring digital assets, it says.
“For active crypto traders, the trading platform offers advanced tools, including real-time market data, charting tools and customisable trading options, catering to beginners and experts.
“Users can track their investments in real-time through the portfolio management feature, providing a clear view of asset performance and value fluctuations,” Ally continues.
The other eGroupX business units are:
eZiFX: A forex transfer service for individuals and businesses that supports cross-border transactions and remittance needs.
eSure: Custom insurance products designed for low-income consumers.
eZi Transact: A B2B and B2C payment platform that empowers SMEs and informal merchants to manage transactions.
Hola Data: A high-speed ISP that offers transparent pricing.
While many South Africans are banked, many do not use their accounts regularly or effectively for financial transactions. eGroupX says it aims to address this gap by promoting financial inclusion and encouraging more active engagement with financial services.
“Financial inclusion is not just about giving people access to financial services, it’s about integrating these services into their everyday lives in a way that adds real value,” comments Ally.
“Our approach uses the strengths of each business to deliver services that are greater together than they are apart. Our mission is to reshape financial services in SA and empower millions of people to take control of their financial futures.”
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