PODCAST | Flow48 pushes for expansion in SME lending sector

The growth of alternative lending for SA’s small to medium enterprises (SMEs) is the focus of this edition of Business Day Spotlight. 

Host Mudiwa Gavaza is joined by Altesh Baijoo, MD of Flow48 SA, an alternative lending company specialising in working capital, founded in 2022 by Idriss Al Rifai.

In February, the company closed a $69m Series A funding round to scale operations in the UAE, SA and Saudi Arabia. Of this, Flow48 has committed $10m specifically to scale its operations in SA. 

Baijoo says it is aiming to deploy between R15m and R20m per month to SMEs through to the first quarter of 2026. 

The company is looking to fund businesses across sectors, targeting SMEs with annual revenues above R5m and the capacity to service debt.

Despite a surge in alternative and digital financing options in SA, Baijoo says traditional banks will continue to play a crucial role in SA’s SME financing ecosystem throughout 2025. Rather than being displaced by new entrants, established financial institutions will adapt their approaches to remain competitive and relevant in this changing landscape.

Through the session, Baijoo outlines Flow48’s business model; recent fundraising activities; funds committed to SA; trends in funding SA’s SMEs; and developments in alternative lending.

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Business Day Spotlight is a MultimediaLIVE Production. 

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