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Sakhumnotho Group Holdings partners with Ennova to grow blockchain in Africa.

Sakhumnotho Group Holdings has partnered with Ennova Holdings, a pioneering FinTech start-up that is venturing into the digital payment industry utilising blockchain technology, with an emphasised focus on Africa. With its expanding digital market and ever-growing mobile phone usage, the African market is poised for the next phase of the digital revolution. Blockchain advances in financial technology have the potential to redefine the African economy and advance socio-economic growth. It is anticipated that the current investment in digital infrastructure on the African continent will facilitate the quick and easy incorporation and adoption of this new technology.
Sakhumnotho Group Holdings partners with Ennova to grow blockchain in Africa.

Sakhumnotho has entered into binding agreements to acquire an up to 20% interest in Ennova. The focus of this partnership is on developing and offering a new FinTech solution that enables customers to make payments, peer-to-peer remittance, buy goods and services, as well as invest using a digital currency based on blockchain tokenisation, thereby establishing safe, secure, and convenient payments and investment solutions in Africa.

Sakhumnotho is a leading black-controlled and managed investment holding company with a 20-year track record. It currently has a diversified portfolio including interests in technology, media and telecommunications, mining and resources, energy, property, financial services, and various other sectors. This new partnership with Ennova reaffirms its commitment to the growth of innovative financial solutions on the Continent.

“Sakhumnotho has identified investment in technology-enabled businesses as an important component of the group’s growth strategy. Our investment in Ennova represents an opportunity to continue investing in leading technologies in the FinTech segment whilst partnering with a young, dynamic and ambitious team who are bringing new technology to Africa. We are a values-driven organisation and we are pleased with the strategic alignment between Ennova and ourselves. We look forward to working with the Ennova team to create shareholder value.” Sipho Mseleku, President & CEO of Sakhumnotho Group.

”We are very excited by the new partnership with Sakhumnotho. We look forward to working together in establishing a prosperous and long-lasting legacy. Our fintech systems will bring a significant change in the way value is held and transferred, and we look forward to the opportunities that will be enabled through this partnership. We are a forward-looking company that strives to make tomorrow a reality today. Our vision of uplifting and enabling people through technology falls in line with Sakhumnotho’s ethos and, through their reach, we hope to propel access to people faster than ever before.” Taek Il Kwon, Executive Chairman of Ennova Holdings.

13 Oct 2021 13:29