Brazilian payments unicorn, Ebanx, has set sight on Africa in a first push to expand into new territories outside Latin America. The company announced Tuesday that it started operation in Africa in August with these key countries; Nigeria, Kenya and South Africa.

Ebanx, which is focusing on the digital payment aspect of its services in the continent that is already filled with big players offering financial technology services, said it chose the three countries as its first foray into overseas operation after 10 years in Latin America because they are the next big growth frontiers for digital payments and digital market during the 2020s.

“(These countries) represent more than 50% of the continent’s GDP, one third of Africa’s population and are seeing an explosion in digital service adoption,” Paula Bellizia, a global payments executive with Ebanx, told Reuters.

Africa’s digital economy has an estimated $115 billion value, according to a report released by Endeavor with McKinsey in June.

Founded in 2012 by Alphonse Voigt, João Del Valle and Wagner Ruiz in Brazil, Ebanx began offering digital wallets and payment applications on mobile phones to Brazilian consumers on a test basis in 2020. It eventually expanded beyond Brazil, enabling global businesses to connect with hundreds of payment methods in different countries.

Currently, the payment giant has its footprint in 15 countries in Latin America, processing payments for major companies like Airbnb Inc, Shopee and Uber.

Ebanx became a unicorn in October 2019 following an investment round backed by FTV Capital, a U.S.-based growth equity investment firm. It thus became the first tech startup from the southern region of Brazil to surpass a $1 billion valuation.

Although the company faces tough rivalry in Africa with big fintech players like Interswitch, Flutterwave, Fawry, Paystack, Yoco and more, Bellizia said there is a similarity in the growth trend in South America and Africa that Ebanx is counting on.

“In Latin America, digital commerce ended up accelerating digital payment. In Africa, digital payments will leverage digital commerce,” she said.

“There is a trend of ecommerce happening in Africa the same way it did in Latin America eight years ago,” she added.

The company said it aims to use partnerships with major e-commerce stores to deepen payment services on the continent, with focus on global merchants.

Bellizia said Pipefy, a powerful SaaS low-code platform for workflow management founded in 2015 in Latin America and operating within over 200 countries worldwide, including the Africa region, will work with Ebanx as its payments partner.

“Expanding our solutions to African countries speaks directly to Ebanx’s mission of creating access, and having Pipefy as a merchant makes this moment even more special to us, expanding solutions and services throughout regions full of opportunities,” she said.

The company will initially focus on mobile money, a system which allows users to exchange and store funds on their cellular phones, before it expands to other areas of its services.

“This is the moment for Africa, and it’s quite reminiscent of the Latin American landscape back in 2012 when Ebanx first began its journey by providing global merchants access to sell more goods and digital services via the internet to Latin Americans through local payment methods,” said João Del Valle, CEO and co-founder of Ebanx. “Africa’s fast-growing digital economy is only in its early days, and it’s projected to grow up and to the right for the next few decades. Together with local players, Ebanx will be a catalyst to realize the many benefits of a digital economy even faster.”

Ebanx said its solutions in the Africa region will contemplate popular local payment methods peculiar to each of the countries. They are listed as follows:

South Africa: Instant EFT by OZOW, which lets online shoppers access internet banking to make an Electronic Funds Transfer (EFT) that gets instantly verified. EFT is the second most popular online payment method in South Africa today.

Kenya: M-Pesa, a mobile banking service that lets users store and transfer money, as well as pay for online shopping through their mobile phones. M-Pesa was introduced in Kenya as an alternative way for the country’s population to have access to financial services.

Nigeria: USSD, a session-based protocol that travels over the GSM signaling channel to query information and trigger services. It enables customers to pay for their e-commerce shopping.

Bank Transfers, which enable customers to pay for online purchases quickly and easily without needing a credit or debit card. They are one of Nigeria’s leading alternative payment methods because they are very secure and reliable.

Education is the key to the future of world nations because the globe believes in the ethics of educational progress in terms of constructing and addressing the wants and needs of humans as a whole. The primary and secondary stages of human development and growth with regard to career planning will be discussed in this article. Human nature is also known as the nature of self-improvement since, in my opinion, one person’s small actions can affect entire generations.

The behavioral origin and roots of a child will likely reveal the cultural sector (Gifted/Talented) of the child to know his or her root of job choice because this way of profession choice is naturally important to humans which puts some to depression, anxiety, and chronic mental problem. The best time to look below oneself and realize one’s (a child’s) potential in a certain area of the world is during this stage of adolescence. 

However, this is a significant problem that many people are dealing with, particularly in West Africa (Nigeria) as a case study because of the unfavorable climatic climate, which has made matters worse for people in general and students in particular ( would-be career seekers).

Giving society a lofty aspiration is something to consider, and “if you didn’t discover yourself someone will discover you and make use of you either in a positive or harmful way,” as I wrote in my last blog article. Please read the citation sentence again, translate it into your thoughts, and consider whether your plans and the road map you follow are really worthwhile. A child’s growth and development are really vital, and they require very high parental attention to get them on the right track. 

For example, if a low-IQ child from a rural school district is transferred to an urban school district, you will find that the child will be exposed to numerous educational teaching facilities and be around children with high IQs, which will help the child improve and be competitive. This strategy might be a way to alter or uncover a child’s learning capacity, which inadvertently aids with career exploration.

Many youngsters in my neighborhood today are frustrated and depressed as a result of their job decisions, which have added a toxic culture to a society that isn’t developing as it should. It is also important to discuss how the child’s family’s social stratification affected his or her job decisions, whether they were good or bad. My secondary school experience in a rural location was the worst; I can state that many people there were enslaved to a culture of playing rather than studying; there was no reading or assessment; even the parents who had no formal education tried to help in any way they could. “I despise the rural school system,”

However, understanding a specific system before applying or entering the field is crucial because it allows one to learn more about the system’s nature and determine whether it is the future to embrace. Because I thought I had already seen the light, a recent book that I read today, with the title Career planning for students, really opened my eyes. But in all seriousness, this book provides a thorough introduction to career planning that can act as a guide for any student who adopts the author’s philosophy of career planning and wants to understand the “Why” behind their profession choice.

Everyone, including students who in one way or another are facing serious challenges in career selection, should read this book, Career planning for students. These books will offer a road map for figuring out your Y and the reason for living.

Summary

In the educational system, problem-solving includes developing instructional solutions. Planning a career can help students quiet their minds so they can figure out how to justify their future. This is Clinton Chidera, a young guy who always seeks out positive channels and makes sure that everyone is aware of every internal positive value.

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