Unseen Engines: How a Fintech is Powering Billions in African Consumer Loans
Africa’s consumer lending landscape is experiencing unprecedented growth, with mobile phones acting as the primary access point to credit for millions. While familiar names like FairMoney and Carbon in Nigeria, and Safaricom and M-KOPA in Kenya, capture the spotlight, the behind-the-scenes infrastructure facilitating these loans often remains unnoticed. These “plumbing” providers are the unsung heroes of digital lending, managing crucial functions like credit scoring, loan distribution, and debt collection.
The Quiet Powerhouse: Kuunda’s Impact
One such company, Kuunda, exemplifies this trend. Since its founding in 2018 by Andrew Milne, Sam Brawerman, and Morne van der Westhuizen, Kuunda has discreetly enabled over $3 billion in loans. Operating as a business-to-business (B2B) infrastructure provider, the company provides the essential “pipes” that enable other fintechs and lenders to offer credit. Despite its significant impact, Kuunda’s operations are largely hidden from public view, a deliberate strategy reflected in co-founder and co-CEO Andrew Milne’s statement to Techpoint Africa: “We’re a media-shy company.” Kuunda’s focus remains on building the foundational technology that creates the conditions for lending across the continent.
In conclusion, Kuunda demonstrates the vital role of infrastructure providers in driving the expansion of digital lending in Africa. By quietly facilitating billions of dollars in loans, they empower other fintechs and contribute significantly to the continent’s financial inclusion efforts, all while maintaining a low public profile.
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