UKESHE A Zulu word meaning cash, is South Africa’s cheapest and most convenient way to pay anyone with no bank account.
It’s described as a micro transaction platform launched in November 2015 and allows card holders to pay and get paid.
This after realizing that many, especially domestic workers, gardeners, car guards are sole breadwinners of their household and support more than four on an income between R2000 and R3000 a month.
This constitute 79% according to a study and Stats SA.
For a little as R60 per month uKheshe Life (launched May this year) offers get R5 000 funeral cover and a private hospital guarantee. Should an accident occur, there is R100 000 accidental and emergency as well as R100 000 death and disability benefit.
“If a domestic worker has a medical emergency, becomes disabled or dies, this can have severe and far-reaching financial implications for the family due to lack of significant savings and adequate insurance cover,” explains Clayton Hayward, co-founder, uKheshe, South Africa’s cheapest and most convenient QR cash card and uKheshe Life, a hospital a hospital, disability and life benefits card.
In a survey of more than 1,300 domestic workers, only 49 percent stated they were able to save anything at the end of the month, while those who were able to do so saved less than R200 per month. “A large number of South African households and employers do not consider necessary insurance cover because of concerns over cost or complicated paperwork,” says Hayward.
With more than 11 million unbanked consumers, Hayward says that the uKheshe Life card is ideal for consumers or small business owners wanting to provide affordable benefits for employees.
“Not only can you use it to pay someone, but the user will receive all the benefits, including accidental cover, should an incident occur on the job or at home,” said Hayward.
uKheshe Life card offers domestic workers, other workers, and their employers easy to understand, affordable insurance cover. The card offers all the features of the usual uKheshe QR card, but now includes added hospital and life benefits for the card holder.
To access uKheshe you can dial *120*82274# and follow the prompts. This free number will not require airtime and if a card is required, a virtual one will be created and automatically linked to the consumer’s cellphone number.
The uKheshe Life card can also be ordered via the uKheshe shop.
So, any car guard, domestic worker or anyone can access this simple app either by doing it yourself or ask any family member.
For more information visit www.ukeshe.co.za