AlphaCode, the startup incubator from Rand Merchant Investments (RMI), has awarded Oyi Medical Card R450 0 at its first virtual demo day. Oyi is one of seven startups that were awarded entrepreneurial programs valued at R2 million each in 2019 as phase of AlphaCode’s Incubate programme.
The Oyi Medical Card is a savings card that can solely be used for clinical prices and is supported through impervious payments technology. Holders use this card to save for scientific expenses.
It eliminates the temptation to use the cash for other purposes due to the fact it can solely be used to pay for clinical expenses. Tami Ngalo, CEO of Oyi, stated “The card is notably aimed at employers whose workforce are no longer included via medical aid.
It also encourages a lifestyle of saving and accountable financial practices. Unlike scientific resource schemes or health insurance, the cardholder can use it to pay for medical offerings for any household member or dependent”.
Ngalo spent most of his childhood traveling nation hospitals in the former homelands of South Africa and after experiencing the public fitness gadget in the UK and spending a few years working in IT at a bank, Ngalo determined to launch a clinical card that enables less costly get admission to to satisfactory healthcare.