Business News Report November 2022

Africa HR Solutions handles cross-border payments anywhere in Africa

With our experience as an established payroll outsourcing professional, our team at Africa HR Solutions understands the intricacies of paying a distributed workforce across the African continent. We also understand the importance of getting your employees paid on time – which is why we learned to develop and refine the way we deliver cross-border payments in Africa. From currencies to taxes, we handle everything compliantly, so you do not have to!

Contact our specialists now to find out why we are the team to trust for secure, timely, and accurate payments to your workers in Africa!

An Egyptian Fintech company raises $31M funding in 2022

Money Fellows, a Fintech company in Egypt, has raised $31M in its first close of Series B investment. Participants in this contribution include:

  • CommerzVentures
  • Middle East Venture Partners (MEVP)
  • Arzan Venture Capital

Since it was established, Money Fellows has raised a total of $37M in funding.

The company specializes in the digitization of money circles – or more commonly known as rotating savings. Ahmed Wadi, CEO of Money Fellows, attributes the firm’s success to Egypt’s already functioning ROSCA (Rotating savings and credit association) system. The fintech company also possesses a B2B format – where their partners in Egypt sell their products within their application.

Growing SMEs benefit from HR outsourcing says the Economic Times

According to the latest article by the Economic Times, SMEs on growth trajectory should consider outsourcing their HR functions. In this interview with Sumit Sabharwal, Managing Director (India & SAARC) of Excelity Global, we learn that there are more than 51 million SMEs that provide employment to around 120 million people in India alone.

Sumit Sabharwal stresses that HR outsourcing saves up to 35% of the total business costs for small employers – making it a solution for those who are constrained by the cost of having an in-house team to manage their HR functions. According to a study, 56% of companies choose to outsource their HR to cut down operating costs while 41% think reducing their HR workforce is a better idea.




Kevina Takoordyal has a BA Hons Business Management from the University of Glamorgan, UK, with MBA in leadership and Innovation, MBA General, PMP Certified, and Agile Scrum Master. She currently works as the Head of Operations at Africa HR Solutions Ltd with more than 20 years of proven leadership capabilities in Operations, Business Development, People Management, Process Optimization, and Project Management in the Financial Services, BPO, Banking Industry, and Heath Care Industry. In Senior leadership roles with an international footprint across Europe working and extensive Pan- African experience from a compliance, finance, and operations angle, Kevina comes across with a panoply of cross-functional skills. Kevina also serves on a few Boards, Non-Independent Executive at MioD and for NGOs on a voluntary basis, a coach and mentor to aspiring female leaders across Africa and Mauritius.

Kevina is a firm believer in Servant Leadership with a strong focus and commitment to uplifting others, with the ability to deliver through a highly engaged – diverse team, and works towards consistently synergistic value creation. While being a focused and adaptive thinker and Kevina is actively participating in panel discussions on Innovation, CX, Digital transformation.

Kevina serves as Project Assessor for the National Youth upskilling program. She has been recognized as Global Talent in a few companies, Ceridian, and International SOS Ltd whereby she has been awarded a few scholarships and had the opportunity to be mentored by Senior Vice President in the US. Award Winner in various fields and at a national level and recognized including Super Achiever Leader Award in Africa in 2016, Awarded Africa Women Leader 2018.



Head of Legal & Compliance

A qualified lawyer who joined Africa HR Solutions in July 2020, Mark Du Preez has experience working in private practice for a reputable law firm in South Africa. He also played commercially focused roles at a leading private bank, wealth management company, and outsourcing firm in South Africa and Mauritius.

Mark has played a pivotal role in Africa HR Solution’s risk mitigation strategy, which positively impacted P&L performance over the years.

He currently leads the Partnerships function of the company including relationships and oversight with in-country partners (ICPs) across Africa.

alex daruty


Head of Commercial

Alex has more than 15 years of experience in the global, strategic development of both enterprise and consumer brands in categories including technology, transport, enterprise software, entertainment, and travel.

With experience in roles on both agency and corporate side, he has worked across international brands and has led the development and execution of multi-discipline campaigns across EMEA, NORAM and Asia Pacific.

His focus is on driving meaningful business impact through brand differentiation and building high-functioning, digitally oriented, and analytically driven capabilities. He is motivated by working with, and developing dynamic people, teams, and organizations.

He leads, manages, develops and mentors the Key Account Management department, including line management responsibility for the team of Key Account Managers and Key Account Administrator who represent the Company as the primary communication link between all relevant stakeholders, including clients, third party in-country partners and internal functions.

Originally from Mauritius, he holds bachelor’s degrees in International Business, Finance and Management from the University of Nevada, Reno.