New paytech Enza launches in Africa
Enza, a new payments company aiming to cater to the growing needs of banks, fintechs and multinational organisations, has launched in Africa.
According to McKinsey, the electronic payments market in Africa is expected to grow by around 150% between 2020 and 2025. Enza says it intends to service this “rapidly growing” market and accelerate the displacement of cash.
Enza aims to provide native digital payment capabilities to institutions that want to enable their customers to accept or make electronic digital payments, a space Enza claims was “previously dominated by banks”, but is now increasingly served by multinationals, fintechs and government entities.
Hany Fekry, group CEO of Enza, says: “We have created Enza because so many payments challenges remain unsolved across the African continent.
“Our focus is on creating a seamless digital fabric between the payments’ channels, schemes and integrations so that Enza enables clients to access anything they need, even if we don’t provide the service natively.”
Enza says it is due to open a new office in Cairo, Egypt, this month, adding that it has attracted a board with “considerable experience” in banking, payments and the African continent.