City start-up changing small business payment landscape
A City-based start-up is changing the way South African small businesses accept card payments.
Alan Winde, MEC of Economic Opportunities, yesterday (15 March 2016) visited Yoco, to showcase the spirit of entrepreneurial innovation in the Western Cape.
MEC Winde met with Katlego Maphai, Yoco co-founder and CEO, at their CBD offices in Loop Street.
MEC Winde said: “Yoco is an excellent example of a tech start-up which is embracing innovation to make it easier to do business. The team at Yoco are a world class example of how technology can be used to take the economy forward.”
MEC Winde said that like the Western Cape Government, Yoco had prioritized supporting small businesses to grow.
“Yoco have developed a solution which responds to the needs of small business, and which reduces the red tape they face in processing payments. Cutting red tape is all of our business. For its part, the Western Cape Government has put a dedicated Red Tape Reduction team in place which is aiming to save small businesses R500 million by 2019 by tackling poor and outdated legislation, and by improving government processes. We also have a reactive team in place which is ready to assist any small business being slowed down by red tape,” said MEC Winde.
Officially launched in 2015, Yoco now employs 24 people. They have over 1 000 small businesses using their platform, processing over R25 million in card payments each month, and growing fast.
Kindly see images attached. High res images are available on request.
For media queries:
Bronwynne Jooste
Spokesperson: Alan Winde, MEC of Economic Opportunities
Tel: 021 483 3550
Cell: 060 970 4301
Email: bronwynne.jooste@westerncape.gov.za
