Naspers targets Africa’s financial services industry
'We intend to bring credit solutions to all of our PayU markets, including Africa,' says CEO Bob Van Dijk
Naspers, Africa’s biggest company by market value, planned to start offering lending services in SA and other African markets, CEO Bob van Dijk said. The internet and media group will join a number of technology companies, including mobile operators MTN and Vodacom, that are wading into the continent’s financial services industry to reach a large number of potential clients who are excluded from traditional banking and other financial services. Through its PayU fintech unit, Naspers in 2017 invested in German credit-scoring company Kreditech, which generated €45m in revenues in 2016. It also has lending interests in Brazil and India. "We intend to bring credit solutions to all of our PayU markets, including Africa," Van Dijk told Business Day on Friday. Naspers would consider using its own funds to provide loans in the future, he said. Access to credit Online payments business PayU operates in SA and Nigeria and has businesses in the Americas, Asia, Europe and the Middle East. "We ...