ShapeShifter

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:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Meet Fred Roed, founder of 'Heavy Chef' (SA’s most popular monthly tech event)

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".

Meet braai master Justin Bonello, a great South African with a heart of gold

Meet braai master Justin Bonello, a great South African with a heart of gold

The Money Show’s Bruce Whitfield interviews Bonello for this weekly "ShapeShifter" feature.

Running Bidvest doesn’t scare me! - Mpumi Madisa (39)

Running Bidvest doesn’t scare me! - Mpumi Madisa (39)

Madisa will soon become Bidvest’s CEO and the only black woman CEO of a JSE Top-40 company. At 39, she’ll also be the youngest.

Still young(ish)? Entry-level jobs available on Lulaway’s employment platform

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.

Meet Dr Sibusiso Sibisi, inspiring math whiz at the head of Wits Business School

Meet Dr Sibusiso Sibisi, inspiring math whiz at the head of Wits Business School

Bruce Whitfield interviews Dr Sibusiso Sibisi, Director and Head at Wits Business School (WBS), for his "ShapeShifter" feature.

How RMB went from 'too poor to buy a photocopier' to the largest bank in SA

How RMB went from 'too poor to buy a photocopier' to the largest bank in SA

Bruce Whitfield sat down with GT Ferreira, Laurie Dippenaar and Paul Harris, the inspirational founders of Rand Merchant Bank.

Popular articles
Journalist explores what could go wrong with the new street cameras in Joburg

Journalist explores what could go wrong with the new street cameras in Joburg

Daily Maverick's contributor Heidi Swart says service providers that install surveillance monitors need to be responsible.

[WATCH] Mabena's lack of agility has social media in stitches, we are Mabena!

[WATCH] Mabena's lack of agility has social media in stitches, we are Mabena!

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Local six-year-old dancing sensation's video goes viral

[WATCH] Local six-year-old dancing sensation's video goes viral

After Will Smith and Jada Pinkett-Smith shared the video of Ivanah Campbell dancing it has been viewed over 10 million times.

SA’s richest woman opens up about being a refugee and becoming a billionaire

SA’s richest woman opens up about being a refugee and becoming a billionaire

Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).

Tips on how to handle bad sex

Tips on how to handle bad sex

Clinical sexologist Dr Eve advises how to deal with bad sex and how to properly communicate when displeased.

Meet Sandile Shabalala, CEO of black-owned and controlled TymeBank

Meet Sandile Shabalala, CEO of black-owned and controlled TymeBank

TymeBank has no branches and no monthly fees. Most transactions are free. Bruce Whitfield interviews its CEO.