Ecentric, a leading omnichannel payments provider, and its partners were awarded Fintech Innovation of the Year at the 2024 Africa Tech Festival for their pioneering Wealth on Wheels (WOW) initiative, aimed at transforming South Africa’s minibus taxi industry. The awards ceremony, held on November 13, 2024, at the Bay Hotel in Camps Bay, Cape Town, celebrated outstanding technological innovation across Africa. The event recognized companies, individuals, and projects for their contributions to advancing technology on the continent. Launched at the Southern African National Transport Conference (SATC) in Pretoria, the WOW platform brings digital solutions to the heart of transportation, modernizing the minibus taxi sector and driving it into the digital era.
In collaboration with the Eastern Cape Transport Tertiary Cooperative Limited (ECTTC) and FORUS Digital, WOW introduces a range of transformative technologies, including digital cash payments, GPS tracking, and blockchain, to optimize operations, boost revenue, and improve safety for passengers.
Paul Wenborn, Ecentric’s Business Development and Mobility Lead, reflects on the project’s impact, stating, “With WOW, we’re rewriting the rules of the road, ushering in a future where mobility is accessible, secure, and profoundly transformative. This collaboration addresses the needs of all stakeholders—from taxi owners and drivers to merchants and government agencies—while ensuring a safe and secure experience for commuters.”
The WOW initiative will begin its rollout across the Eastern Cape, with the onboarding of industry participants starting in December 2024, followed by expansion to other regions of South Africa. By leveraging blockchain technology, the platform enhances data transparency and security, empowering operators to make informed decisions while improving passenger safety through continuous monitoring and real-time incident alerts.
“We are excited about the transformative impact WOW will have on the taxi industry,” Wenborn added. “This award marks the start of a larger movement toward digitisation and formalisation that will reshape the transportation landscape in South Africa.”