'US withdrawal from Paris climate accord will not slow global momentum'
White fragility is a powerful tool to silence conversations on race, says author
China's 5G roll-out could secure its lead in tech race against US
CapeTalk's Melanie Rice caught off guard as her kids describe Bok tour on air
Meet the women who ensured that the Boks were in top form to bring home the cup
[WATCH] Springboks on a distinctly Capetonian Rugby World Cup trophy tour
Bonginkosi Madikizela says DA leadership position not completely off the table
'Not hiring overqualified people puts unjustified barriers of entry'
Zuma's Sunday Tweet thanks South Africans for well wishes during his illness
Controversial reclassification of wildlife a positive move, says game rancher
Unleash your inner foodie with McDonald’s… seriously?
Weather data suggests drought, heat and a poor harvest likely across SA
Mkhwebane, Sars boss clash over Zuma tax records - who has greater legal muscle?
Winde explains why Western Cape wants to urgently import gas
[WATCH] Jubilant Langa residents welcome Bok squad
Improved commuter experience ahead with roll-out of new trains - Metrorail
Cape Town fashion studio Margot Molyneux does sustainability with style
7 steps to building a business you can sell
About 400 jobs to be lost when ArcelorMittal closes Saldanha steel plant - mayor
Treasury expecting more investments from Africa Investment Forum
Allan Gray (81) passes away
Zande provides credit via phone to spazas in the form of the goods they sell
If you don’t want to lend to them, will you lend to me? That’s how the business started…
Siya Ntutela, CEO - Zande
We trade with both South Africans and non-South Africans… These are great businesspeople… It’s a tough environment… South Africans are the ones who seem to need it [credit] most…
Siya Ntutela, CEO - Zande
He who can crack the informal market is sitting on gold… We have a lot of VCs looking positively at what we’re doing.
Siya Ntutela, CEO - Zande
The spaza shop market in South Africa is worth about R40 billion per year, and growing at 10% per annum.
More than 90% of transactions are in cash.
South Africans own only about one in five spaza shops.
Spaza shops around South Africa are battling because, according to Siya Ntutela (CEO and co-founder of fin-tech firm Zande), many suppliers don’t offer credit to small retailers and supply chains are broken.
Zande uses old-school USSD tech to allow spaza owners to apply for credit and make payments using a simple feature phone.
The tech also enables cashless transacting between suppliers and spaza shops.
Zande raises credit from large Fast-Moving Consumer Goods companies and extends it to spaza shops by supplying them with stock.
It also negotiates bulk discounts.
The Money Show’s Bruce Whitfield interviewed Ntutela for his weekly “ShapeShifter” feature.
Listen to the interview in the audio below (and scroll down for more quotes from it).
We’re not lending physical cash. We lend products…
Siya Ntutela, CEO - Zande
We have a huge cash book rather than a credit book… We deliver to their doorstep; we give them a good price… That [a mobile cash and carry] is exactly what we are!
Siya Ntutela, CEO - Zande
We don’t wait for things to get broken. We see them after three days if we see a potential problem…
Siya Ntutela, CEO - Zande
Social capital is a huge thing… it’s the secret sauce…
Siya Ntutela, CEO - Zande
We’ve started with an owner-driver platform…
Siya Ntutela, CEO - Zande
It’s not that we’re trusting; we’re careful!
Siya Ntutela, CEO - Zande
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
This article first appeared on 702 : Zande provides credit via phone to spazas in the form of the goods they sell
More from ShapeShifter
Still young(ish)? Entry-level jobs available on Lulaway’s employment platform
Lulaway has placed 30 000 young South Africans in jobs since 2011. Bruce Whitfield interviews its CEO, Jake Willis.
Read More
38 deals, not one failure! – Bruce Whitfield on black-owned Pape Fund Managers
The Money Show’s Bruce Whitfield interviews Zuko Kubukeli, CEO at Pape Fund Managers.
Read More
Need a loan to grow your small business? There’s a pot of money waiting
Spartan SME Finance provides finance for small businesses. Bruce Whitfield interviews its CEO, Kumaran Padayachee.
Read More
Grade-4s in SA don’t understand what they’re ‘reading’. Enter Click Foundation…
Nicola Harris (founder, Click Foundation) on her mission to radically transform educational outcomes of disadvantaged learners.
Read More
Pieter de Villiers is (yet another) South African taking Silicon Valley by storm
He’s the co-founder of Clickatell, global leaders in application-to-person mobile messaging and mobile transactional services.
Read More
Meet Fred Roed, founder of 'Heavy Chef' (SA’s most popular monthly tech event)
The Money Show's Bruce Whitfield interviews the author of "The Heavy Chef Guide to Starting a Business in South Africa".
Read More
Meet braai master Justin Bonello, a great South African with a heart of gold
Justin Bonello (of the show "Cooked") is the founder of Neighbourhood Farm. It employs unskilled community members to farm.
Read More
Story of Van Loveren Vineyards and 'Four Cousins', SA's top-selling bottled wine
Bruce Whitfield interviews Phillip Retief, CEO at Van Loveren Vineyards, the origin of the SA's top-selling wine, "Four Cousins".
Read More
(2017) Meet Johnny Clegg, a legend of legends on his final journey
[From the archives] Ray White interviewed Johnny Clegg on 27 September 2017 about his life and times and final journey.
Read More
Adri Williams - Ubuntu personified - saved Khayelitsha Cookies and changed lives
Bruce Whitfield interviews Williams about her transformative business delivering quality cookies to hotels and Pick n Pay.
Read More
Highlights