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Ukheshe welcomes Ocean on 76 Group CEO into its ranks

By , ITWeb
Africa , South Africa , 04 Feb 2021
Prins Mhlanga, CEO of Ocean on 76 Group.
Prins Mhlanga, CEO of Ocean on 76 Group.

South African digital Fintech platform provider, Ukheshe has announced the appointment of Prins Mhlanga, CEO of Ocean on 76 Group, as a non-executive director.

According to a statement released by Ukheshe, the appointment comes at a time when the company has refocused on the B2B sector and is streamlining its payment solution services.

Clayton Hayward, co-founder of Ukheshe says the company is excited to have Ocean on 76 on board: “Prins will add immense value to the business as a shareholder as well as playing a vital role in driving the company’s transformation strategy in becoming the dominant B2B Fintech enabler across the continent.”

Hayward says that the 076 Group invested in Ukheshe at inception and has been actively involved in growing the company as a seed investor to where it is today, a more mature business aiming to reach unicorn status within the next three years: “We have raised just under R100m in less than two years and acquired three companies within this period.

Ukheshe has a strong legacy in enterprise platform delivery in banking and telco sectors, and believes it is a great fit for the Ocean on 76 Group.

In its announcement, Ukheshe says Mhlanga has significant experience within the telco and enterprise sectors. The Group offers an ecosystem and network of multiple competing and cooperating business models and are well established as significant participants in the digital economy, the micro transaction platform adds.

“We are pleased to join the Ukheshe board and have ambitious plans, and we are confident that Ukheshe will establish itself as a leading Fintech enabler across the continent,” says Mhlanga.

African expansion strategy

In September 2020 Ukheshe appointed Victor Ndlovu as Vice President of Ukheshe Africa and Paul Opie as Head of Issuing, Ukheshe Africa.

According to the company both appointments come as it continues branch out from its South African roots into Africa.

Most recently, in the beginning of February 2021, Ukheshe penned a deal with KCB Bank in Kenya to grow its services in East Africa.

The agreement will see KCB sponsor Ukheshe’s Bank Identification Number, which will allow the Fintech firm to immediately issue both physical and virtual cards across East Africa where KCB has an extensive footprint.

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