eShagi (Visit website)
Location: Zimbabwe
Sector: Fintech
Let’s talk about Money…
A wise man once said, If you cannot fix a financial situation in three calls then you need to change your circle. This statement is awfully true but still, quite hard to achieve fast. But what if you could get a friend. A friend who will be in that circle, One who will not Judge nor Gossip about it, But still will help solve your relatively small financial issues in an instant. Allow me to introduce you to eShagi.
What do they do at eShagi?
eShagi is a Zimbabwe Based fintech that was founded in 2019 by Munyaradzi Gwatidzo. He created eShagi to change how the traditional money lending narrative is depicted. This is by offering credit really fast and with almost no friction as long as you are:
- Over 18 years old and a resident of Zimbabwe.
- Full-time employee in the government or private sector.
- Receive salary or other income through a bank account.
- Not on an active blacklist, bankruptcy or equivalent.
eShagi offers four types of services that include; personal or group loans, bill payment, insurance and product financing. The application process is pretty easy, and all you need is your ID, payslip and payment details. The fun part about this is you can process all this on your WhatsApp, and once the process is complete it takes them 30 minutes to get back at you. If you qualify and are eligible for a loan of your choice the disbursement is done and you can now go for that shopping or the pressing issue you had.
This Fintech operates in four countries, Zimbabwe, South Africa, Zambia and Malawi, with over 50,000 registered customers. So far they have a 10% loan conversion to loan sizes of ZW$20,000 and USD 500. Currently, they are working towards the registration of 1000 merchants from where customers can borrow the cash, from their stores, websites and WhatsApp.
Their services have become popular with five-star reviews from customers describing them as reliable and efficient. Well, given how fast they have grown in a short period of time, I have no doubt that eShagi is actually doing something if not a lot right?
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