In Africa, Yoco Powers SMES Beyond Cash-Based Commerce

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In Africa, small to mid-sized enterprises are an engine of the overall economy.

As noted on the International Trade Centre’s website, more than 70 percent of Africans work for small firms with fewer than 20 employees. With expanded payments options, these merchants can more nimbly serve their customers, capturing commerce and top-line growth.

To that end, payments services provider Yoco (a truncated version of “your commerce”) said last week that it raised the equivalent of more than $16 million, and the money will be earmarked for the company’s point-of-sale (POS) solution aimed at small to mid-sized enterprises.

The product allows SMEs to accept payments and also measure company performance, eyeing metrics such as inventory and which


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