PE set to become the first cashless city in Africa

In this edition of Business Day Spotlight, our focus is on creating the first cashless city in Africa using blockchain technology.

Our host Mudiwa Gavaza is joined Sonny Fisher, CEO of Forus Foundation to discuss fintech’s role in pushing the SA economy forward.

The Forus Foundation is a Nelson Mandela Bay-based fintech company that has recently developed a digital exchange platform called CoegaX used for procurement, financing and capital formation.

Fisher explains that their business essentially provides trade finance for small-scale farmers and other related business in the area. Farmers receive loans to allow for bulk orders and purchases, the money being loaded onto a card which can be used to transact. Once business is concluded and stock sold, CoegaX makes money by charging a commission on the goods sold.

Listen in to hear the full discussion and thoughts around these and other questions.

Business Day Spotlight is a MultimediaLIVE Production.