MyJHB

Stuff from Johannesburg

Moove rolls out R284m Investment Conference pledge

Advertorial:
Moove rolls out R284m Investment Conference pledge:

Moove, a mobility financial technology (fintech) company, has rolled out a R284 million investment, which it pledged at the fifth South African Investment Conference hosted by President Cyril Ramaphosa in April 2023.                                                 

As an impact driven fintech, Moove exists to provide financial services to those who are unbanked or underserved by traditional lenders, so they can access revenue-based financing and access a path to asset ownership and financial stability.

It does this by embedding its alternative credit scoring technology onto ride-hailing, logistics, mass transit, and instant delivery platforms, using proprietary performance and revenue analytics to underwrite customers that maintain previously been excluded from financial services.

“The pledged amount of R284 million was invested in the purchase of more than 2 000 vehicles in Cape Town and Johannesburg.

“These vehicles were deployed to mobility entrepreneurs operating in these cities. Further investment of R300 million will soon be allocated to the purchase of 1 400 current vehicles, with further funding and vehicle allocation taking area in 2024,” said the Managing Director of Moove South Africa, Warren Peters.

Peters said the initial investment created over 2 000 jobs across mobility entrepreneurs, Moove employees and the technical resources employed at dealerships in Johannesburg and Cape Town.

“We anticipate future funding to create opportunities for an additional 1 400 mobility entrepreneurs and an estimated 50 additional jobs through our network of partners and service providers,” Peters said.

The investment, Peters said, allows Moove to offer financial inclusion to mobility entrepreneurs. It creates opportunities for deserving South Africans, who are currently excluded from access to certain financial services, and who aspire to become mobility entrepreneurs and asset owners.

Moove operates in various cities across Africa, the Middle East, Europe and India. These include Lagos, Cape Town, Johannesburg, Dubai, Hyderabad, Bangalore, Mumbai and London. – SAnews.gov.za

Read More at the Source

– MyZA

CLICK HERE to submit your news to www.MyPR.co.za.

Click here to submit your South African News – free.

Prepaid Meters: Straton Prepaid

Category: Tag: , , , , ,

The Oriental Plaza: A Phoenix in Fordsburg

If Johannesburg is a city of forced displacements, the Oriental Plaza is its most resilient response. While the Rand Club was built for the elite and Ponte for the “jet-set,” the Oriental Plaza was born from the trauma of the Group Areas Act—a piece of Apartheid legislation designed to geographically separate the races. Yet, in true Johannesburg fashion, what was intended as a tool of containment and financial ruin for the Indian community transformed into one of the most vibrant, independent commercial powerhouses in the country.

The story of the Plaza begins with the destruction of Pageview, affectionately known as Fietas. In the mid-20th century, Fietas was a legendary multicultural hub, centered around the bustling 14th Street. It was the city’s premier destination for textiles, clothing, and spices, where shoppers of all races would rub shoulders in a “jazzy, soulful” atmosphere. However, because Fietas was located so close to the white-only city center, the Apartheid government declared it a “white area” in 1962. The community fought back for decades, but by the 1970s, the bulldozers arrived. Homes were leveled, and the thriving traders of 14th Street were forcibly relocated to a purpose-built, modernist complex a kilometer away in Fordsburg: the Oriental Plaza.

The government’s intent was cynical: by moving the traders into a controlled environment with high state-mandated rents and strict rules on what could be sold, they hoped to break the back of Indian commercial dominance. The early years were devastating; many businesses folded, and the “Grand Bazaar” felt like a sterile warehouse compared to the street-level energy of Fietas. However, the traders refused to vanish. They eventually won the right to purchase their own shops, making the Oriental Plaza unique among South African malls because it is owned by the shopkeepers themselves rather than a corporate landlord. This ownership model changed everything. Without the burden of massive monthly mall rentals, the 360+ independent stores can offer prices that national retailers cannot touch, turning the Plaza into a “bargain-hunter’s paradise” that draws millions of visitors a year.