Can Mobile Payments And Fintech Help Fix Sa’s Ngo Funding Crisis?
Loading player...
Gugu Mfuphi talks to Mitchan Adams, Ozow’s Co-Founder And Head Of R&D
Providing a simple online payment platform to allow people to make donations quickly and easily could be a game-changer for South Africa’s struggling non-governmental organisation (NGO) sector – both by improving cash flow and increasing access to a larger audience of potential donors.
It’s estimated that South Africa has an estimated 120 000 registered non-governmental organisations (NGOs), and anywhere between 50 000 and 70 000 unregistered bodies. For many of them, life is a constant battle for financial survival, with thousands closing or scaling back their activities every year. Some 30 percent of the country’s 122 000 registered NGOs had to close in 2013 due to financial and fund-raising issues – and the picture has not improved since then.
Part of the problem is the high fees associated with payment, with costs varying between 3% and 5% for credit card payments.
Providing a simple online payment platform to allow people to make donations quickly and easily could be a game-changer for South Africa’s struggling non-governmental organisation (NGO) sector – both by improving cash flow and increasing access to a larger audience of potential donors.
It’s estimated that South Africa has an estimated 120 000 registered non-governmental organisations (NGOs), and anywhere between 50 000 and 70 000 unregistered bodies. For many of them, life is a constant battle for financial survival, with thousands closing or scaling back their activities every year. Some 30 percent of the country’s 122 000 registered NGOs had to close in 2013 due to financial and fund-raising issues – and the picture has not improved since then.
Part of the problem is the high fees associated with payment, with costs varying between 3% and 5% for credit card payments.
