According to Jeroen Harteveld, MASSIF’s fund manager, “Nomanini’s focus on informal and unbanked or underbanked merchants across Africa fit perfectly with the mandate of the financial inclusion fund.” Founded in 2011, Nomanini facilitates financial service providers and fast-moving consumer goods (FMCG) companies in reaching retail micro-, small and medium enterprises (MSMEs) and their customers in South Africa. Through Nomanini, merchants can use a mobile phone as a retail point-of-sale (POS) solution. Nomanini also finances merchants’ purchases from FMCG firms. In addition, MSMEs can use Nomanini to offer their customers financial services such as bill payments, prepaid utility transactions, and cash-in and cash-out banking services. Nomanini has offices in Kenya as well as in South Africa and has received investments from Goodwell Investments, which also has offices in Kenya, the Netherlands, and South Africa, and Standard Chartered, a UK-based bank that is mainly active in Africa, Asia, and the Middle East. Financial data for Nomanini are unavailable.
