Yoco Undergoes Major Leadership Shift as Co-founder Katlego Maphai Steps Down as CEO
A significant leadership transition is underway at Yoco, one of Africa’s most recognizable digital payments firms, as co-founder and CEO Katlego Maphai steps down from his role after a decade at the helm. This pivotal change sees fellow co-founders Bradley Wattrus and Lungisa Matshoba assume responsibilities as co-CEOs, signaling a new era for the South African fintech pioneer. This strategic restructure is designed to align Yoco for its ambitious next phase of growth and solidify its position within the continent’s rapidly evolving tech landscape.
# A Decade of Growth and a Vision for the Future
Founded in 2013 by Katlego Maphai, Carl Wazen, Bradley Wattrus, and Lungisa Matshoba, Yoco has cultivated a prominent presence within South Africa’s vibrant SME ecosystem. The company has become instrumental in empowering small businesses by providing essential tools such as card machines, innovative online payment solutions, and comprehensive financial software. Under Maphai’s leadership, Yoco has grown into a cornerstone for countless entrepreneurs. As part of the new leadership structure, Carl Wazen will continue his crucial role leading go-to-market efforts, ensuring seamless market penetration and expansion. Katlego Maphai, while no longer CEO, will remain actively involved with Yoco in a long-term strategic capacity, offering his expertise and supporting the team “where most useful,” as stated in a letter published on Yoco’s website. This leadership evolution underscores Yoco’s commitment to scaling its impact and further cementing its status as a leading player in African fintech as it navigates its subsequent growth trajectory.
This strategic handover reflects a maturing African tech scene where visionary founders transition roles to allow for fresh leadership perspectives and specialized focus. The shift positions Yoco to leverage the combined strengths of its experienced co-founders, ensuring continued innovation and market leadership as it enters its next chapter.
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