Super Apps – Read all about it!

A MasterCard and Economist impact report highlights that Africa offers fertile ground for the development of super-apps (apps that offer a wide range of solutions – e.g. from mobile money to food delivery). In the SA, MTN has bundled instant messaging with m-commerce transactions carried out via mobile phones, together with entertainment, in its Ayoba super app.

In Egypt, a new fintech called MNT-Halan has morphed into a super app of sorts, and in the process become Egypt’s largest and fastest-growing lender to the unbanked. The startup’s proprietary fintech ecosystem connects customers, vendors, and micro-enterprises through its consumer-facing app, merchant app, distributed lending and payment processing software, and payment solutions, as well as offering services such as ride-hailing and logistics. This distributed system enables the frictionless handling of millions of customers and multiple currencies. It also guarantees maximum uptime that ensures availability while maintaining maximum control of customer data. Critically, it integrates all business functions through machine learning and AI to increase productivity, minimise the risk of default and credit exposure, and enhance the renewal rate.

The Togo-based Gozem which is a super app that provides a host of services — including transport, e-commerce, and financial services in Francophone Africa — has recently raised $5m in Series A financing. Gozem, which is also based in Singapore has already successfully raised direct foreign investment. Although small, Togo has embraced the digital economy and recently announced that Lomé has attracted more shipping than Lagos, making it the largest port in West Africa.