Web3 Technology Firm Reltime Enters Southern African Markets
Reltime, the global Web3 and Metaverse fintech for good company, entered the important markets of Southern Africa through its strategic collaboration with Khumalo and Mabuya Chartered Accountants (KnM), a proudly pro pan-African financial services firm.
Reltime Africa Pty. Ltd., South Africa, the largest and most mature financial services market on the continent, is already rapidly rolling out Reltime’s solutions to the rest of Southern Africa. As a first step, Reltime Africa Zambia Ltd. will become fully operational later this month.
McKinsey analysis estimates that Africa’s financial services market could grow at about 10 percent per annum, reaching approximately USD 230 billion in revenues by 2025 (USD 150 billion excluding South Africa). While fintechs have made significant inroads in Africa—notably in wallets, payments and distribution—there is still plenty of room for expansion. Across Africa, just three countries have real-time payments and the necessary payment rail infrastructure in place, according to the analysis*.
White spaces are emerging across the market, typically in distribution, acquisition, lending and borrowing, advanced infrastructure as well as Web3, with South Africa being among the top ten countries in the world in terms of digital asset adoption.
The Southern African region is one of Reltime’s Strategic Growth Markets (SGM). The geographic area that Reltime Africa is focusing on includes South Africa, Angola, Botswana, the Comoros, Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, Zambia and Zimbabwe.
“The timing of our strategic collaboration could not have been better,” says Peter Michel Heilmann, CEO, Reltime. “Together with our Southern African partners, we are building a new movement in the region and globally to change the way people and businesses financially interact and transact. The burgeoning region is very close to my heart, since, as a child, I lived and went to school in Ndola, Zambia. We warmly welcome KnM and its leadership team to our rapidly-growing family and congratulate KnM on its tenth anniversary.”
“We are more than pleased to be embracing Reltime’s mission, vision and ambition in Southern Africa,” says Peterson Khumalo CA(SA), RA, Group Managing Partner, KnM, South Africa’s leading emerging, proudly black-owned and managed professional services consulting firm. “This week, we are celebrating KnM’s tenth anniversary. Our strategic new partnership with Reltime is yet another reason to raise a toast with both our colleagues, collaborators and business associates. Reltime has already received serious interest in Reltime’s game-changing FastTrack to Web3 from potential partners based in South Africa, Zambia and Eswatini. Through Reltime, we provide them with access to the exciting worlds of Web3, blockchain, the Metaverses, and cutting-edge fintech solutions. We very much look forward to the breaking of new ground in Southern Africa by integrating Reltime’s revolutionary technology and Web3 financial ecosystem and, at the same time, bringing new jobs, inclusive growth and financial freedom to Southern African economies.”
Among other solutions, Reltime will be offering its FastTrack to Web3 to telecommunications firms, trusted brands, financial service providers and other potential B2B2C (business-to-business-to-consumer) partners, enabling them to build their own integrated, white-labelled, state-of-the-art Web3 financial ecosystem within three weeks.
In addition, Reltime is currently developing and will soon be launching its Decentralised Exchange (DEX), cutting out any middlemen and providing businesses, traders and producers anywhere in the world with freedom and attractive benefits through peer-to-peer (P2P) trading, swapping, pooling, winning as well as the farming of digital assets, commodities, precious metals and foreign exchange. The Reltime DEX could, for example, be used as a truly easy-to-use platform for, for example, Southern African fruit producers to trade their fruit directly with buyers on the other side of the planet, without the interference of any intermediaries.
Reltime is also developing the world’s first all-in-one Web3 and Metaverse payment, identity and cold storage biometric card.
“A business is not about making money,” Peterson Khumalo concludes. “It is about creating value. Money will follow. With Reltime, we have found our perfect second half.”
* Fintech in Africa: The end of the beginning, McKinsey & Company, August 30, 2022 https://www.mckinsey.com/industries/financial-services/our-insights/fintech-in-africa-the-end-of-the-beginning
Headquartered in Oslo, Reltime is a global, disruptive, purpose-driven Web3 and Metaverse financial technology for good company. Reltime is on a mission to empower people and businesses to thrive and be free in the New World, while protecting their identity and assets. It is revolutionising and transforming the way business and finance are done, payments are made, and trade is conducted around the globe. Reltime leverages its trailblazing technology and ecosystem to create an inclusive New World for everyone, everywhere.
With full Nordic trust, honesty and transparency, Reltime has built the first global Web3 financial ecosystem on top of its Layer 1, Proof of Authority blockchain. Reltime is offering cutting-edge, white-labelled B2B2C, Metaverse and Web3 solutions to telecommunications, financial service providers and other trusted partners. With wholly-owned subsidiaries in Norway, Lithuania and El Salvador, Reltime has a global licence to hold digital assets on behalf of customers and third parties. Reltime’s goal is by 2025 for 100 million people and enterprises to be financially free and do more with money by sending, receiving, withdrawing, depositing, borrowing, lending, earning, swapping, staking, trading, interacting and transacting on the Metaverses as well as in the real world.
Reltime’s Web3 and Metaverse products, services and solutions are available in and supported by 150 countries.
Headquartered in Sandton, Africa’s financial hub, and with offices in Cape Town, Durban, Richards Bay and Rustenburg, Khumalo and Mabuya Chartered Accountants is a professional service company and one of the leading black-owned firms of Chartered Accountants in South Africa. Leading a new front, KnM provides multi-disciplinary in audit, tax, advisory, technology, corporate finance, and SME back-office support services.
KnM is an exciting emerging force in South Africa echoing winds of change in how central synergies bring together partnerships driving value, which is the currency of exchange no matter the size of the client. KnM’s vision is to reach and lead in all regions of Africa and alternative emerging markets through transparent governance in audit and SME development. The company’s values are: to act with integrity; accountability is non-negotiable, thus taking personal responsibility for KnM’s actions; to be committed to getting end results; to treat all humans and the environment with respect and dignity.