Welcome to Tech Aways, a podcast that explores startups and technology in the Southern African region. <br/><br/><a href="https://techaways.substack.com?utm_medium=podcast">techaways.substack.com</a>
Tech Aways Podcast
Claim This Podcastby Ephraim Modise
27 episodes
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Podcast Overview
Welcome to Tech Aways, a podcast that explores startups and technology in the Southern African region. <br/><br/><a href="https://techaways.substack.com?utm_medium=podcast">techaways.substack.com</a>
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Publishing Since
12/16/2025
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Recent Episodes
July 24, 2026
Wayne Steppe: Why payments are becoming faster, smarter and more accessible in South Africa
<p>In this episode of the Tech Aways Podcast, we sit down with Wayne Steppe, Enterprise Architect at Ecentric Payment Systems, to unpack the evolution of South Africa’s payments ecosystem and explore where the industry is headed next.</p><p>Ecentric operates behind the scenes of many of the country’s largest retailers, providing the infrastructure that enables millions of card transactions to be processed every day. From card terminals and acquiring banks to payment switches and settlement systems, Wayne offers a rare look into the complex network that powers modern commerce.</p><p>The conversation begins with a breakdown of how a typical card transaction works and the role Ecentric plays in connecting merchants, banks and payment networks. Wayne explains how payment switches help retailers route transactions between multiple acquiring banks, improving reliability and reducing dependence on a single provider.</p><p>Reflecting on the last decade, Wayne identifies COVID-19 as a major catalyst for change in the payments landscape. The pandemic accelerated the adoption of contactless payments, tap-to-pay functionality and digital wallets such as Apple Pay, Google Pay and Samsung Pay. At the same time, QR-code-based payment solutions like SnapScan and Zapper gained traction, particularly among small businesses looking for affordable ways to accept digital payments.</p><p>The discussion also examines the role fintech startups have played in expanding payment acceptance across South Africa. Companies such as Yoco and iKhokha have lowered the barriers for small merchants to accept card payments, helping drive financial inclusion and digital commerce beyond traditional retail environments. According to Wayne, these innovations have made it easier for entrepreneurs, informal traders and small businesses to participate in the digital economy.</p><p>Looking beyond South Africa, Wayne highlights the diversity of payment ecosystems across Africa. While South Africa has built a sophisticated card-based infrastructure, other markets have followed very different paths. Kenya’s mobile-money-led ecosystem, Ethiopia’s bank-specific terminal model and Nigeria’s tightly regulated payments framework demonstrate that there is no single blueprint for digital payments on the continent. These differences underscore the importance of building payment solutions that reflect local consumer behaviour and regulatory realities.</p><p>A significant portion of the conversation focuses on regulation and the transformation currently underway in South Africa’s payments industry. Wayne discusses the South African Reserve Bank’s efforts to modernise the country’s payment infrastructure through initiatives such as PayShap and the broader Payments Ecosystem Modernisation programme. These reforms aim to make payments faster, more affordable and more accessible while reducing reliance on international card schemes.</p><p>The episode also explores the growing conversation around open banking. While South Africa does not yet have formal open banking regulations comparable to those in Europe, Wayne believes the sector is moving in that direction. Increased competition from digital-first banks and new entrants has already begun reshaping the banking landscape and creating opportunities for innovation.</p><p>When discussing the future of payments, artificial intelligence emerges as a major theme. Ecentric already uses AI to support software development and analyse transaction data for operational insights. Looking ahead, Wayne believes one of the most significant developments will be the rise of agentic payments, where AI assistants will be authorised to complete purchases on behalf of consumers. This could fundamentally change how people interact with commerce, allowing AI agents to research, select and pay for products and services within predefined limits set by users.</p><p>Cross-border payments are another area of focus. Wayne explains how initiatives such as Transactions Cleared on an Instant Basis (TCIB) are attempting to make payments between African countries faster and cheaper. While the technology already exists, broader adoption remains constrained by regulatory coordination and differing national priorities. Nevertheless, solving cross-border payments will be critical to unlocking the full potential of intra-African trade and the African Continental Free Trade Area.</p><p>Looking ahead, Wayne sees PayShap as one of the biggest opportunities in South Africa’s payments sector. He is also particularly excited about mobile phone-based acceptance technology, which allows merchants to accept card payments directly on a smartphone without requiring dedicated hardware. Ecentric’s own focus over the coming years will be expanding its presence among mid-sized retailers and strengthening integrations between payment infrastructure and point-of-sale systems through its POSPAY initiative.</p><p>Whether you’re a fintech founder, retailer, investor or simply curious about how digital payments work, this episode offers valuable insights into the infrastructure, regulation and innovation shaping the future of commerce in South Africa and across the continent.</p> <br/><br/>This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://techaways.substack.com?utm_medium=podcast&utm_campaign=CTA_1">techaways.substack.com</a>
June 30, 2026
Thaheer Mullins: The case for building Africa's angel investing ecosystem
<p>Angel investing is becoming one of the most important building blocks of Africa’s startup ecosystem, but it remains one of the least understood.</p><p>On this episode of the Tech Aways Podcast, Thaheer Mullins, Founding Director at African Angels Guild, unpacks how angel investors think, how syndicates are changing the way early-stage companies raise capital, and why founders should stop assuming venture capital is the only growth path.</p><p>Mullins traces the origins of African Angels Guild to his own experience in venture capital. After repeatedly encountering promising startups that fell outside the mandate of traditional VC funds, he began investing personally before joining forces with other investors to create a structured angel syndicate. Rather than simply pooling capital, the group spent months developing its governance, investment philosophy and decision-making processes before making its first investments.</p><p>Unlike venture capital funds, which often seek businesses capable of delivering outsized returns, the Guild looks for companies that have already proven customers are willing to pay for their product. The focus is less on chasing billion-dollar outcomes and more on backing resilient businesses with realistic growth potential, strong founding teams and meaningful commercial traction.</p><p>The conversation also explores one of the biggest misconceptions among African founders: that every startup should be built for venture capital. Mullins argues that VC funding is designed for a very specific type of high-growth business and comes with relentless expectations for scale. Many businesses, he says, are better suited to angel capital, which provides founders with greater flexibility before they decide whether venture funding is the right next step.</p><p>Another recurring theme is the value angel investors bring beyond money. Because syndicate members are often experienced founders, executives or operators, they frequently step into portfolio companies to help solve practical challenges ranging from marketing strategy and hiring to business development and governance. For many startups, this hands-on support can be just as valuable as the investment itself.</p><p>Looking at the broader ecosystem, Mullins believes Africa has made significant progress, with more than a hundred angel networks now active across the continent. However, he argues that the next stage of growth will depend on greater collaboration between these networks, more investor education, richer market data and stronger secondary markets that allow early investors to realise returns while recycling capital into the next generation of startups.</p><p>The episode also touches on current investment trends, why business-to-business startups continue to attract the most investor interest, the structural challenges facing consumer-focused businesses in African markets, and how syndicates make it possible for individuals to participate in angel investing without committing large amounts of capital on their own.</p><p>For founders navigating fundraising and for professionals considering becoming angel investors, the discussion offers a practical look at how early-stage investing is evolving across Africa and why patient, collaborative capital may prove just as important as venture funding in building the continent’s next generation of successful startups.</p> <br/><br/>This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://techaways.substack.com?utm_medium=podcast&utm_campaign=CTA_1">techaways.substack.com</a>
June 23, 2026
Karabo Makete: Aions targets South Africa's startup funding gap with R100 million seed fund
<p>The interview reinforces a point that often gets overlooked in discussions about African venture capital: the problem is not necessarily a lack of investors, but a lack of investors willing to fund startups caught between grant funding and Series A. That is the real story here, and it’s stronger than simply announcing a new fund.</p><p>South African venture capital firm Aions Ventures believes one of the biggest obstacles facing the country’s startup ecosystem is not a shortage of entrepreneurial talent, but a lack of funding for startups that have already proven their products and are preparing to scale.</p><p>The firm recently launched the ZAR100 million Aions Seed Fund I to address what investors often describe as the “funding valley” between grant funding and Series A investment. While South Africa has numerous programmes supporting startups at the idea stage, founders who have begun generating revenue often struggle to secure the capital needed to grow into venture-backed businesses.</p><p>Speaking on the Tech Aways Podcast, Investment Principal and Partner Karabo Makete said the fund is specifically designed for post-revenue, technology-enabled South African startups that have demonstrated market traction and are preparing for rapid growth.</p><p>“We’re looking for high-potential startups that have a pathway towards globalisation and that solve real South African and African problems,” she said.</p><p>The fund will invest between ZAR5 million and ZAR7 million per company, targeting businesses operating across the technology spectrum, including fintech, climate technology, energy and other digital solutions. Rather than backing companies still at the concept stage, Aions is focusing on startups that are already generating revenue but need capital to reach Series A readiness.</p><p>According to Makete, too many promising businesses fall into a gap where they have outgrown grant funding but remain too early for institutional venture capital.</p><p>“There are many promising businesses that are starting to gain traction and working towards sustainability, but they need funding to scale and become attractive to Series A investors,” she said.</p><p>She described the challenge as a “chicken and egg” problem. Investors want startups to demonstrate strong growth before committing capital, yet startups often require funding to achieve that growth in the first place.</p><p>Unlike many venture capital firms that primarily provide financing, Aions intends to work closely with portfolio companies after investment. Makete said capital alone is rarely enough for young businesses.</p><p>“We don’t just write a cheque and let you run off on your own,” she said. “We offer strategic support, shared services and opportunities into supply chain networks to give startups a more holistic approach.”</p><p>The firm also plans to strengthen governance within portfolio companies, introduce clearer decision-making structures and help founders prepare for future institutional investment. The objective is to exit investments after around five years, ideally through follow-on Series A investors or acquisitions.</p><p>Makete said one of the biggest mistakes founders make is becoming too attached to their original product or business model.</p><p>“Bright ideas come about very often,” she said. “What matters is whether the team can execute, whether they’re coachable and whether they can pivot when the market tells them something different.”</p><p>She also cautioned founders against presenting unrealistic financial projections or failing to understand their target customers’ buying cycles. Instead, she encouraged entrepreneurs to engage potential customers early and build forecasts based on genuine market validation rather than optimistic assumptions.</p><p>While the fund is sector agnostic, Makete identified energy as the area she finds most exciting, arguing that South Africa’s ongoing energy transition presents significant opportunities for entrepreneurs. She also expects artificial intelligence to become an enabling technology across industries rather than a standalone investment category.</p><p>“I don’t see AI as a sector on its own,” she said. “Within energy, manufacturing and water there will be layers of AI interpreting data and creating intelligence, but there still needs to be actual value beneath the AI.”</p><p>The ZAR100 million fund was capitalised through ZAR60 million from the High Impact Seed Fund of Funds, managed by the SA SME Fund, with an additional ZAR40 million committed directly by the Technology Innovation Agency.</p><p>Makete hopes the fund will encourage greater participation from institutional investors and contribute to building a stronger pipeline of investment-ready startups.</p><p>She also believes South Africa’s startup ecosystem is becoming increasingly collaborative, with investors, incubators and ecosystem partners working together to improve founder support rather than operating independently.</p><p>“I see it growing into an actual ecosystem in the next few years,” she said. “We’re very open to collaborating with different funders and incubators to ensure there’s a cohesive approach to supporting startups in South Africa.”</p> <br/><br/>This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://techaways.substack.com?utm_medium=podcast&utm_campaign=CTA_1">techaways.substack.com</a>
27 total episodes available
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This podcast updates daily.
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This podcast is available on 4 platforms including Apple Podcasts, Spotify, and more. You can also use the RSS feed directly.
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Yes, this podcast regularly features guests.
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