Smart Money – iKhokha CEO Matt Putman on the journey from startup to Nedbank acquisition

In this Smart Money with Alishia Seckam interview, entrepreneur Matt Putman unpacks the history of iKhokha, explains why he founded it, and highlights what’s next for the company.

Putman is the CEO and co-founder of iKhokha, one of the first major fintech companies in Africa.

iKhokha is a digital payment solution that offers tap-and-go card machines, point-of-sale systems, and top-tier e-commerce products.

His entrepreneurial journey began long before he founded iKhokha, however, as he comes from an entrepreneurial home and was the co-owner of a nightclub while he was studying.

Putman studied at the University of KwaZulu-Natal, graduating with a Bachelor of Arts, Media, and Communications in 2004.

In 2006, he became the Marketing Director and a Partner at Mainline Property Brokers, before joining Entesys in 2009.

Four years later, he founded iKhokha, which has grown significantly over nearly 15 years and was acquired by Nedbank in 2025 for a deal worth approximately R1.65 billion.

The interview

In this interview, Putman begins by unpacking the story behind iKhokha, explaining what inspired him to found the company.

He highlights the biggest challenges the company faced in its early days and how iKhokha overcame them.

Putman then discusses Nedbank’s R1.65 billion acquisition of iKhokha, and the decisions behind it.

He also talks about the next chapter for iKhokha in this new era, highlighting where he sees opportunities for growth.

Finally, Putman offers advice to South African listeners who want to be successful entrepreneurs.

Watch the full Smart Money interview with Matt Putman below.