Building a Healthy Financial Future: The Impact of Fintech Innovation — Philip Belamant
Philip Belamant developed critical technologies that were in demand by the international payments industry. He led many of the first companies to create the first mobile money transfer systems for sub-Saharan Africa. Philip is well-known for his ability to build and transform fledgling companies into industry-leading platforms.
Philip Belamant founded and was an Executive Director and Co-CEO at Vodacom Financial Services, Ltd., a leading mobile and ICT service provider with 25.1 million customers and branches throughout Africa. At Vodacom, Philip created the continent’s first domestic bill pay system and a co-branded virtual card to access mobile money for the unbanked. He co-founded TeleCell Systems, one of the largest data processor and payment service providers in South Africa, with Nedbank.
“Unlocking financial inclusion is a noble goal that any entrepreneur should aspire to. However, many in the tech industry may not know how to effectively scale products to meet this global challenge,” explains Philip Belamant. Currently, he’s an advisor to two firms: a strategic advisor to Lynx Labs, a multi-pronged financial services startup, and a South Africa Innovation Accelerator board member. Philip is widely recognized as a serial entrepreneur and venture capitalist.
With a team of 40 technologists and developers, Belamant Group is developing and commercializing innovative solutions and services across banking, payments, insurance, financial inclusion, mobile money, and financial inclusion. These include innovations like Belamant Digital Banking and Payment Solutions that deploy state-of-the-art services, including mobile payments, digital banking, integrated payments, health insurance, local payment and billing services, and a payments marketplace.
Philip Belamant’s Early Life and Education
Philip was born in South Africa, the fourth of six children. He grew up in the wealthy city of Johannesburg before moving to the far-flung rural province of Transkei at age 14. There, he experienced discrimination and segregation, and experienced bouts of homelessness, for which he received a boarding school scholarship.
Philip spent his youth searching for his own identity, and without the support of his family, he and his siblings were frequently in and out of foster care. He had to drop out of high school when he was 19 years old and became a roofer at 20. This was an educational experience he could have done without.