Browsing: RainFin

Speaking in parliament recently, trade & industry minister Rob Davies complained that “developmental credit”, the kind used to start or sustain a small business, for example, “hardly features” in South Africa. Instead, in the wake of African Bank’s collapse, the focus has been on the evils

South Africans have been doing it for generations. Social lending, familiar to many in the form of groups like stokvels, has been a hallmark of how many people make do, outside of formal financial networks. Thanks to the Web however, social lending, also known as peer-to-peer (P2P) lending, has begun to take off in developed countries

RainFin, a start-up promising to disrupt the financial services sector by allowing credit-worthy South Africans to engage in person-to-person lending, cutting out the banks in the process, has sold 49% of its equity to … a bank. The Cape Town-based company has sold the equity to Barclays Africa for an

RainFin hopes to disrupt SA’s financial services sector by allowing credit-worthy South Africans to engage in person-to-person lending, cutting out banks in the process and offering higher returns to lenders and better interest rates to borrowers. Sean Emery, cofounder and CEO of RainFin