Web3 Technology Firm Reltime Enters Southern African Markets That Could Grow To Over $80 Billion In Revenues By 2025
Web3 Technology Firm Reltime Enters Southern African Markets That Could Grow To Over $80 Billion In Revenues By 2025. 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.”
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.
