A new player, eGroupX, has entered the South African financial and telecommunications sector, offering a mobile virtual network operator (MVNO) service alongside a suite of other offerings. The fintech and connectivity group, which has established offices in Kenya, Nigeria, Zimbabwe, and Angola, has now expanded its presence to South Africa. Their mission is to make financial and telecommunications services more accessible and affordable for millions of underserved individuals.
eGroupX integrates a network of financial and connectivity units to create an ecosystem aimed at serving low-income households, small and medium enterprises (SMEs), and informal merchants across South Africa. The company prides itself on developing solutions that align with Africa’s financial landscape. Their offerings include banking, remittances, insurance, telecommunications, internet services, cryptocurrency offerings, and forex trading.
Their MVNO service, branded as eMobile, leverages partnerships with established telecom providers to deliver cost-effective mobile banking and onboarding solutions. According to Saud Ally, CEO of eGroupX, eMobile provides voice and connectivity services specifically tailored to the needs of South African communities.
“eMobile has adopted a localized approach, which includes exclusive bundles for students, small businesses, and underserved areas, ensuring customers experience reliable coverage and high-quality service. The focus is on simplicity, with a seamless onboarding process and free SIM cards,” says Ally.
The emphasis remains on delivering accessible and affordable connectivity tailored to meet the diverse needs of South African communities. While eMobile’s data and connectivity services are provided by leveraging the infrastructure of a leading network provider in South Africa, the identity of this provider remains undisclosed at this stage. The service is already live, and the network operator backing eMobile will be revealed at an upcoming launch event, where more details about the MVNO services will be shared.
In addition to eMobile, eGroupX offers a cryptocurrency platform called DoshFX, accessible via their web platform. DoshFX is a secure platform for buying, storing, selling, and exploring digital assets.
“For active crypto traders, the trading platform offers advanced tools, including real-time market data, charting tools, and customizable trading options, catering to both beginners and experts. Users can track their investments in real-time through the portfolio management feature, providing a clear view of asset performance and value fluctuations,” Ally continues.
Other business units under eGroupX include:
- eZiFX: A forex transfer service for individuals and businesses that supports cross-border transactions and remittance needs.
- eSure: Custom insurance products designed for low-income consumers.
- eZi Transact: A B2B and B2C payment platform that empowers SMEs and informal merchants to manage transactions.
- Hola Data: A high-speed internet service provider (ISP) that offers transparent pricing.
Despite many South Africans having bank accounts, a significant number do not use them regularly or effectively for financial transactions. eGroupX aims to address this gap by promoting financial inclusion and encouraging more active engagement with financial services.
“Financial inclusion is not just about giving people access to financial services; it’s about integrating these services into their everyday lives in a way that adds real value. Our approach leverages the strengths of each business unit to deliver services that are greater together than they are apart. Our mission is to reshape financial services in South Africa and empower millions of people to take control of their financial futures,” comments Ally.
