Enza is a new payments company that just launched in Africa. Its goal is to meet the growing needs of banks, fintechs, and multinational companies.
McKinsey says that the market for electronic payments in Africa will grow by about 150% between 2020 and 2025. Enza says it wants to serve this “rapidly growing” market and speed up the process of cash being replaced by digital currency.
Enza wants to give native digital payment capabilities to institutions that want to let their customers accept or make electronic digital payments. This is a space that Enza says was “previously dominated by banks” but is now being served more and more by multinationals, fintechs, and government entities.
Hany Fekry, the group CEO of Enza, says, “We made Enza because there are still so many payment problems on the African continent that haven’t been solved.
“Our main goal is to create a seamless digital fabric between the payment channels, schemes, and integrations so that Enza clients can access anything they need, even if we don’t offer the service ourselves.”
Enza says it will open a new office this month in Cairo, Egypt, and that it has found a board with “considerable experience” in banking, payments, and the African continent.