Impact SA

Winner of financial App of the Year on quest to empower 1 million entrepreneurs

iKhokha wins Financial App of the Year

iKhokha accelerates entrepreneurship by providing simplified payment solutions for SMEs.

iKhokha, a locally developed all-in-one suite of intuitive business tools that empowers small businesses to compete in the digital economy, has won the 2023 MTN Business Finance App of the Year Award, adding to their 2016 win of MTN Enterprise App of the Year Award.

iKhokha joins the ranks of other South African financial solutions that have previously won this prestigious category, including Naked Insurance, Franc, Shyft and Easy Equities and now has two coveted MTN App of the Year Awards to their name. 

Having worked closely with SMEs since 2012, iKhokha intimately understands the challenges small businesses face. The fintech aims to help SMEs “Believe in Better Business” by developing and distributing tools that any entrepreneur can use to grow and thrive in business.  

“Winning this award from MTN Business is great recognition of the innovative work our iKhokha team is doing to help SMEs in South Africa start, manage and grow their businesses,” says CEO Matt Putman. “We are working hard to fulfil our ambition to positively impact the lives of 1 million entrepreneurs in the emerging world and to build a path to international expansion”.

The MTN Business App of the Year Awards has established itself as the premier app development platform over the last 12 years and is the largest competition of its kind on the African continent.

iKhokha, which means “to pay” in isiZulu, began their operation by supplying card machines and has grown into offering an array of business tools that enables ordinary South Africans to start, manage and grow a business.

The contribution by small business towards South Africa’s economy increased from 18% in 2010 to 40% in 2020. With an estimated 3.8 million * micro, small and medium enterprises currently operating in South Africa, small businesses continue to foster economic growth, promote social development and create jobs.

“We hope this award leads to a collaboration opportunity with the MTN group as we believe we are very well placed to partner with them in bringing innovative business and payment solutions to their SME customer base in South Africa and abroad,” Putman says.

*(utilising data from Stats SA, the 2020 FIS Global Payments Report & MSME data from International Finance Corporation), Small Business Institute of South Africa)


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