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How microlenders are reshaping SA’s township economy | SA News

Microlending and a barrage of finance products flooding the township economy are changing kasinomics as we know it.

This may sound strange, but Statistics South Africa says the informal economy employs 13.4 million South Africans and turns over more than R5-trillion annually. Now, a new breed of fintech lenders is racing to serve it.

Township economies of scale are no longer an afterthought in the country’s financial landscape. It houses nearly a fifth of the country’s total workforce and is the second-largest source of jobs.

With roughly three million MSME entrepreneurs, 72% of whom operate informally, kasinomics has…

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