Local fintech entrepreneur wins prestigious award

The 2020 South African Small Business Awards has announced talented entrepreneur Tinu Elenjical as the winner of the prestigious National Fintech Award. 

Elenjical and his team were accoladed for the development of an innovative fintech company, Elenjical Solutions. 

Tinu Elenjical was dubbed the winner of the National Fintech Award at the Small Business Awards for 2020

Recognised for his focus on improving the local community, clear business vision, and drive to accelerate local talent, Elenjical has become a renowned name in the fintech sector. 

In an official press release, Tinu Elenjical comments on his success and the importance of giving back to the community.

“Like many entrepreneurs, becoming one was a combination of happenstance, necessity, and an underlying belief that I could create a company that would be as good as any in the international field I was targeting. And yet I also wanted it to be sensitive to the needs of the South African markets. I was also youthful enough not to fully appreciate the risks I was taking, and optimistic enough not to care. It took bravery to leave a well-paying job working for a large UK-based IT consultancy, but once I committed to the move the only direction I looked – and still look – is to the future. I also believe that to be a good entrepreneur you should give back to society, providing employment opportunities wherever possible and being socially responsible in sharing prosperity.”

Elenjical set up his business eight years ago at the age of 28 years old. The award-winning fintech entrepreneur was not only positioned in the top 20 entrepreneurs in SA by the NSBC awards but was also given a Special Award for his work in the field of financial technology and the display of ethical entrepreneurial force. 

Mike Anderson, Founder, and CEO of NSBC comments that innovative solutions created by entrepreneurs will drive the business landscape in SA.

“Growing small and medium businesses is vital to the local economy and its ever-growing rate of unemployment. This type of innovation and entrepreneurial spirit will undoubtedly cultivate a much healthier business landscape for all involved.”

Elenjical Solutions

Elenjical Solutions is an expert financial services technology consulting firm that is based in Johannesburg. The firm is reportedly South Africa’s largest IT advisor and operates Murex, a trading platform. 

The firm recognises the African Capital Markets business with industry-leading knowledge of technology. The firm provides capital markets technology leadership and insights to businesses through system implementations, software developments, training, and project management. 

Elenjical Solutions is the only African-based Murex Business Partner and system integrator. 

Tinu Elenjical

Tinu Elenjical was born in Kenya and came to South Africa at age five-years-old. Located in a small town on the border of KwaZulu Natal and the Eastern Cape, Elenjical had the drive to support communities severely affected by the economic fallout caused by Covid-19. 

The firm, Elenjical Solutions provided funds to Springbok captain, Siya Kolisi’s Foundation, which allowed the healthcare workers treating Covid-19 patients to access personal protective equipment (PPE). The firm also donated to food banks to support the hungry and destitute in the community.

Elenjical says that the growth of his firm was slow and the Covid-19 pandemic accelerated revenues within the year.

“At the beginning, it was hard to establish Elenjical Solutions as a credible alternative to the established large European competitors. But by starting small and building client confidence in our abilities, over time and with patience even the biggest banking and finance houses have come to appreciate our skills.”

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Featured image: Giorgio Trovato via Unsplash