AN ex-Togolese football professional and now entrepreneur, Donaldson Sackey (DS) has developed interest to tap into the Zimbabwean money transfer market.
The Timeless Capital Technology CEO said he wants to address issues that are unique to entrepreneurs in developing countries.
Donaldson, in his 30s, recently launched his digital currency dubbed Timeless Capital Coin.
H-Metro’s Latwell Nyangu (LN) had a chat with DS and he explained his target.
LN: From being a pro footballer to capital markets, give us a brief about yourself.
DS: I am a former professional footballer in Europe, I have played in countries like Germany, England, Spain and Holland. I have always been business oriented and studied business and computer science. During my career I founded my own companies and started with a fashion company through which I ended up in Forbes Magazine and also Forbes 30 under 30. With time I founded more and more companies in the field of consulting and trading. I also studied architecture at the Harvard Graduate School of Design. In the years through my travels in Africa I noticed that the digital infra structure is a huge problem especially when it comes to sending money. So I started a fintech company called Timeless Capital Technology to alleviate these problems.
LN: Tell us about this money transfer application.
DS: Through work I met the CEO named Mark Chirnside of Xago Technologies, a South African payments company backed by Capitec Bank and the government. Mark Chirnside and I talked and agreed that we need to work together and partner our companies to make it happen. The technology that Xago Technologies had brought to market matched mine. Now Timeless Capital Technology and Xago Technologies are able to make cross-border payments worldwide within 4 seconds and with a low transfer rate. Xago/Timeless complies with all KYC and AML regulations.
LN: How do you intend to tap into the Zimbabwe market through this money transfer platform?
DS: As we are a payment system, we are also very open to cooperate with the government, banks, mobile companies, financial institutions and the like. We see our importance in working together for a faster digital payment system.
LN: When are you launching it?
DS: The partnership with Xago Technologies is already underway. Active accounts with transactions are already running. Soon 10 more countries in Africa will follow.
LN: Which countries will be able to send money to Zimbabwe?
DS: It is very interesting that it will not only be cross-border transactions but also within Zimbabwe and of course worldwide.
LN: Tell us about the work you do. What do you specialise in and how are you impacting Europe and Africa?
DS: I have various companies in fashion, trading, consulting and fintech. However, I find Fintech very important in this case. As we know, many people in Africa are unbanked. That’s why we have to make sure that everyone has access to receive and send money at a low rate.
And the important thing is to be able to receive it in seconds worldwide. I have specialised in this area because it makes a lot easier especially as an entrepreneur when you have customers abroad and you have to act quickly to make payments.
I just want to be the bridge to make this possible. In Europe, such methods are also very interesting for companies working with Africa, for example, to simply make transactions faster than usual and thanks to Xago Technologies we are making an impact in this field.
LN: Which other countries have you tapped into, both in Africa and Europe?
DS: I cannot name the countries exactly but there are already nine in Africa with which we have started talks and already some companies in Europe.
LN: What is your target and how do you see yourself in the next five years?
DS: We target as many people as possible to facilitate sending and receiving money easily. Let’s see where we will be in 5 years.
LN: Have you already tapped into Africa and how is the response?
DS: Yes, and the feedback is stunningly good and it is something different and better than what is already on the market.
LN: Thanks Donaldson.
DS: Cheers Latwell.