Pilot project invites Capetonians to get rid of food waste at drop-off sites
WC govt says Covid-19 cases amongst healthcare workers continue to drop sharply
Former Springbok Kobus Wiese: 'Hospital staff were just world-class'
'ConCourt's latest play suggests that prison is very much on the table for Zuma'
Gatvol Capetonian Movement vows to fight City of Cape Town's damages claim
DA deliberates on candidate for Cape Town mayor
'Busy culture' is a load of bull – 10 tips to avoid burnout
'Affordable' classic car market (e.g. VW Beetle) is booming in South Africa
Act's wording flawed - company responds after UIF says using 3rd party illegal
South African sperm donor fights for access to his child
Is the physical office space dying? Research shows not yet
Local director realises lifelong dream with release of his debut feature film
South African sets new Women’s Deep Cave Diving Record in Boesmansgat Cave
[WATCH] Lux stands with Caster 'No one should be stripped of being a woman'
Masters: 'Christiaan Bezuidenhout is on everybody’s lips – not just in SA'
Shorter and shorter videos as attention spans plummet from 20 to 2 minutes
[WATCH] Ndlovu Youth Choir's soul-stirring rendition of isiXhosa Easter hymn
Podcast ad spend globally expected to exceed $1.6 billion over next few years
[WATCH] Animated short-film 'Save Ralph' shines spotlight on animal testing
Rich countries vaccinate low-risk population while Africa waits and dies – MSF
Kenya's hospitals running out of oxygen, plea for return of hoarded cylinders
'Any SADC intervention will ensure Mozambique leads the effort'
'World could be $9 trillion richer by 2025, if Covid-19 vaccinations are swift'
'Urban speed limit must be lowered from 60 km/h to 30 km/h'
Vodacom cuts data costs: It's still twice what we should be paying - tech journo
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
Humility and grit - Lessons from entrepreneur who bought first business for R1
Tech entrepreneur Kirsty Bisset started her business journey as a result of a challenge on The Money Show in 2012.
Read More
Picked the wrong job? There's a company that pays you to quit if you're unhappy
'If you're happy at work it rubs off on your colleagues and clients' says Gideon Galloway, CEO of King Price Insurance.
Read More
Shopping for a home loan? This bond originator pays you back up to R25,000
'Self-service' allows clients to benefit from taking full control of the process says MortgageMarket founder Tim Akinnusi.
Read More
Amplats boss passionate about making a difference (and the smell of explosives)
'The pandemic is an opportunity for innovation'. Natascha Viljoen shares her life story and beliefs on The Money Show.
Read More
Together we are solving diabetes, one human at a time - online coaching platform
Personalised one-on-one healthcare is the answer to the problems diabetics face says Guidepost CEO, Graham Rowe.
Read More
SA needs 'the Madiba compassion' more than ever now, says Afrika Tikkun CEO
Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.
Read More
'My single most important aim is for load shedding to disappear from face of SA'
The Money Show's Bruce Whitfield interviews Eskom interim chair and Health Ombud, Prof. Malegapuru Makgoba.
Read More
Shapeshifter: Springbok-turned-businessman, Bryan Habana
Former Springbok Bryan Habana about where he is at this point of his career.
Read More
Gloria Serobe (Solidarity Fund) is one of SA's most important people right now
The Money Show’s Bruce Whitfield interviews Solidarity Fund Chairperson Gloria Serobe.
Read More
Digital banks have started thriving
Technological advancements have made it possible for new banks to operate and flourish.
Read More
Highlights