Strategic Partnership Announcement

Global fintech leader in cross-border payments, EBANX, has expanded its strategic partnership with Ozow, South Africa’s leading instant EFT payments provider. This collaboration aims to enhance digital payment solutions in South Africa, streamlining transactions and supporting merchants of digital products and services.

A Commitment to the South African Market

Wiza Jalakasi, Director of Africa Market Development at EBANX, emphasized the importance of this partnership: “Our enhanced collaboration with Ozow is a testament to our belief in the potential of the South African market. By integrating these advanced payment solutions, we aim to deepen our service offerings and deliver a superior user experience. South Africa’s digital economy is on a rapid growth trajectory, and we are excited to be a part of this evolution, creating access through technology.”

Advancing Financial Inclusivity

Lyle Eckstein, Chief Product Officer and Co-Founder of Ozow, highlighted the mission behind the collaboration: “Ozow’s mission has always been financial inclusivity. By joining forces with global powerhouse EBANX, we are taking a giant leap towards that goal. This groundbreaking partnership unlocks the doors to international e-commerce for South African shoppers, empowering them to securely access global brands using our trusted solutions.”

The Expanding Digital Economy in South Africa

This partnership arrives at a crucial time as South Africa’s digital economy continues to expand, driven by increasing demand for digital services and the creative economy. According to the Beyond Borders study by PCMI, South Africa boasts one of the highest digital commerce penetration rates in Africa at 47%, with the market expected to accelerate by 16% annually through 2026. This growth outpaces more consolidated markets like the U.S. and Europe, projected to see slower growth rates of 13% and 12%, respectively, according to Statista.

Africa's Young, Tech-Savvy Population

Global digital companies launching services across Africa are experiencing robust growth due to the continent’s young, tech-savvy population. The United Nations' Beyond Borders study reports that Africa has 1.4 billion people, with approximately 60% under the age of 25. The continent’s median age is 18, compared to 38 in North America and 42 in Europe. Digital industries in Africa are outpacing global averages, particularly in sectors like SaaS (25% annual growth by 2026, vs. 21%), delivery apps (21% vs. 9%), digital ads (17% vs. 11%), and streaming (14% vs. 11%).

Unlocking Market Potential Through Seamless Payments

Seamless payments are critical to unlocking the potential of the African market, which is expected to surpass China and India, reaching 1 billion adults by 2030. EBANX and Ozow are well-positioned to meet this demand and reinforce South Africa’s importance in both the African and global digital economies by providing frictionless payment experiences.