For many township entrepreneurs, the obstacle to growth is not a lack of access to a bank account. According to Altron FinTech, it is concentrated cashflow: money that arrives in cash, in lumps and in notebooks, and leaves no record that a lender can read. Abram Juice Ndlovu, Supervisor for Kasi Sales at Altron FinTech, argues that payment innovation, rather than more banking alone, is what allows these businesses to scale.
The everyday problem
The examples are familiar. A Soweto salon customer wants a service today but pays at month-end. General practitioners wait on medical aid co-payments. Crèches chase parents for monthly fees, and school transport operators track takings in notebooks.
Altron FinTech cites the township economy as worth around R1 trillion, with almost 80% of it operating informally. Its message is that these are working businesses, not people waiting to be “banked.” (The company attributes these figures to UNDP; confirm the original data before publishing.)
Why cash holds businesses back
Mixing cash, EFT and informal transfers forces owners into manual reconciliation, which takes time away from customers. Cash also carries safety risks. Without proper records, a total scribbled in a notebook, banks will not consider a loan application.
Cash persists for rational reasons, notes Johan Gellatly, Managing Director of Altron FinTech, in a separate July article: it is free, settles instantly and needs no connectivity. Card payments, by contrast, can take one to two days to settle with a retailer. The Reserve Bank’s 2026 Cost of Cash Research Study found that cash accounts for approximately 56% of all consumer transactions by volume. As Gellatly puts it, “A cash-only business leaves no record that the formal financial system can read.”
One system, one record
The fix, Ndlovu says, is a single system that handles debit orders, card payments, EFT and mobile transfers, so every transaction sits in one place. Salons can use debit orders, GPs can automate medical aid co-payments, and crèches can spend fewer days chasing fees.
Reliable payment timing changes how owners run their businesses. They can plan stock, hire, offer loyalty deals and sell packages with confidence.
From informal to formal
Many township businesses are unregistered, pay no tax and have no business bank account. A digital record creates the paper trail that opens doors: working capital loans, better supplier terms, larger contracts, confident hiring and succession planning. Altron FinTech also argues that digitising the township economy would give policymakers the data that informal trade currently hides.
Willingness to pay is there, according to Ndlovu. A salon owner earning R15,000 to R20,000 a month would pay for tools that save time, improve safety and support growth.
The Kasi Sales Squad
Altron FinTech’s approach rests on local people. Its Kasi Sales Squad began as a pilot in Soweto and, as announced on 15 January 2026, expanded to Ekurhuleni and the Johannesburg CBD. Eight young consultants, recruited from the communities they serve, receive training in digital payments, sales, compliance and products.
The product set includes DebiCheck recurring debit orders, offline-capable point-of-sale devices that queue transactions during load-shedding, NuCash mobile payouts, NuCard prepaid cards and KwikKadima, a loan-desk tool for micro-lenders. After three months, the company says traders reported faster cash flow, fewer missed payments, better record-keeping and more confidence in offering credit. Its stated ambition over three to five years is to build South Africa’s most trusted township fintech ecosystem. “Technology enables, but people convert,” Gellatly says.
The biggest opportunities
Ndlovu singles out two segments. School transport drivers manage monthly takings, fuel and maintenance from memory and notebooks. Spaza shops, the backbone of township retail, run busy, tight-margin operations and need simple, durable tools that work without signal.
What it means for finance professionals
The argument carries implications for lenders, SME funders and policymakers. Digital transaction histories can turn informal traders into assessable credit risks. Gellatly also notes that the South African Reserve Bank will allow non-bank companies to access payment infrastructure directly, without bank sponsorship, which could widen competition in the segment.
As with any company-issued commentary, the claims here are Altron FinTech’s own and reflect a commercial provider’s view.
Suggested imagery: Altron FinTech’s own images, such as the Kasi Sales Squad photograph, are available on its website; request permission from Altron FinTech before use. Alternatives are a township spaza shop or salon with a card terminal, or your own photography.
Want to see how Altron FinTech is helping Kasi businesses grow and formalise? fintech.altron.com/kasi-businesses
