PODCAST | Economics of microlending in SA, according to EasyPay
Business Day Spotlight speaks to Simphiwe Phakathi, executive head of sales and distribution at EasyPay Everywhere
07 June 2024 - 13:42
by Mudiwa Gavaza
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Simphiwe Phakathi, executive head of sales and distribution at EasyPay Everywhere. Picture: SUPPLIED.
The economics of micro lending in SA is the focus of this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Simphiwe Phakathi, executive head of sales and distribution at EasyPay Everywhere.
EasyPay, whose customers are primarily grant recipients, is a unit of listed fintech group Lesaka.
The group consists of two divisions: a merchant and consumer segment. The consumer unit focuses on products such as unsecured credit, transactional banking, micro-insurance and value-added services through the EasyPay platform.
Phakathi outlines the performance of EasyPay’s microlending business. Of Lesaka’s 1.5-million consumer base, 400,000 have opted in for a loan product, indicating uptake by about a quarter of its base. R1.6bn has been dispersed so far for loans up to R2,000.
Join the discussion:
He says the take up of their lending products, as well as those from competing businesses, highlights the pressure that many South Africans are under to make ends meet.
Topics of discussion include: increased demand for micro lending in SA; EasyPay’s plan to capture market share in that market; and continued pressure on consumers.
• Business Day Spotlight is a MultimediaLIVE Production.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
BUSINESS DAY SPOTLIGHT
PODCAST | Economics of microlending in SA, according to EasyPay
Business Day Spotlight speaks to Simphiwe Phakathi, executive head of sales and distribution at EasyPay Everywhere
The economics of micro lending in SA is the focus of this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Simphiwe Phakathi, executive head of sales and distribution at EasyPay Everywhere.
EasyPay, whose customers are primarily grant recipients, is a unit of listed fintech group Lesaka.
The group consists of two divisions: a merchant and consumer segment. The consumer unit focuses on products such as unsecured credit, transactional banking, micro-insurance and value-added services through the EasyPay platform.
Phakathi outlines the performance of EasyPay’s microlending business. Of Lesaka’s 1.5-million consumer base, 400,000 have opted in for a loan product, indicating uptake by about a quarter of its base. R1.6bn has been dispersed so far for loans up to R2,000.
Join the discussion:
He says the take up of their lending products, as well as those from competing businesses, highlights the pressure that many South Africans are under to make ends meet.
Topics of discussion include: increased demand for micro lending in SA; EasyPay’s plan to capture market share in that market; and continued pressure on consumers.
• Business Day Spotlight is a MultimediaLIVE Production.
Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Casts
MORE PODCASTS:
PODCAST | Subscriptions taking over consumer electronics in SA
PODCAST | Economics of SA’s digital infrastructure according to Teraco
PODCAST | An economic snapshot heading into 2024 elections
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.