Katlego Maphai, co-founder and CEO of South African fintech Yoco, has announced he will step down after more than a decade leading the company. He cited the different skills required to scale a business versus starting one.
Leadership will transition to co-founders Lungisa Matshoba and Bradley Wattrus as co-CEOs, while Carl Wazen continues to lead commercial operations. Maphai will remain involved as a founder, focusing on long-term strategic projects.
Since its 2013 launch, Yoco has become a major player in the payments sector, supporting hundreds of thousands of small businesses and processing billions in card payments annually