Standard Bank, Nomanini partner to access Africa’s informal retail economy

PUBLISHED: Tue, 27 Aug 2019 11:30:44 GMT

Africa’s biggest bank by assets Standard Bank has invested $4 million into South African Fintech Company Nomanini. Nomanini technology connects informal merchants with distributors via an e-wallet and standard bank will use this technology to collect data on the informal retail economy. They hope to bring their joint service across 14 African countries by 2021. Joining CNBC Africa for more is Vahid Monadjem, CEO of Nomanini, and Adrian Vermooten Head of Digital in Africa Regions from Standard Bank.

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.