Unifi celebrates milestone of serving 500 000 customers across Africa

Since launching eight years ago, Unifi has firmly made its mark in Africa. Having grown by 43% over the past year, the innovative personal lender now serves 500 000 customers across Uganda, Zambia, South Africa and Kenya. 

“We’re extremely pleased to be well on the way toward hitting our goal of reaching one million customers by 2025. Unifi is not just another microlender. While we move fast, we tread lightly to offer unsecured loans that are truly making life easy for people,” says Unifi CEO, Michiel le Roux.

Unifi was founded in 2015 with the acquisition and rebranding of Unity Finance in Zambia. In 2018, it also acquired two well-established South African online loan entities, Cobol and Dunami. Unifi’s first two startups opened their doors in 2021 in Uganda and 2022 in Kenya. Today, Unifi is a leading lender in Zambia, growing at speed in South Africa, and one to watch in East Africa.

“We’re happy to see our disruptive lending solutions and strategies taking off in Africa’s burgeoning financial markets over the past few years, and we’re excited to grow and scale even more over the coming years,” Le Roux adds.

Unifi has one core product: fast, simple short-term loans for formally employed people. One of the things that makes Unifi stand out is that it doesn’t offer collateral- or payroll-based personal loans, which are more commonly known in these markets. 

To make their unsecured offering a safe bet, Unifi has built advanced tech and uses sophisticated analytics to conduct the necessary affordability checks and risk assessments in traditionally data-poor environments. 

Unifi’s approach seamlessly blends technological innovation with a human touch. “Our tech-and-touch model combines the latest technology with personal service,” Le Roux explains. “This dual approach ensures Unifi’s services are fast, efficient, and rooted in a deep understanding of our customers’ needs.”

While Unifi has a fully mobile-enabled application process for existing and returning customers, its 60 brick-and-mortar branches on the continent are the first stop for new customers. The branches enable Unifi to verify first-time customers’ details and identities and to understand their needs.

The customer benefits from a personalised onboarding process and first-hand education about the product. After their first branch visit, customers can thereafter choose to transact with their phones using the USSD-based Uniapp to borrow again, pay and more. However, many continue to enjoy and prefer a branch visit.

As Unifi continues its scaling journey, the company remains committed to its innovative approach to personal credit solutions. The blend of advanced technology with the warmth of human interaction sets Unifi apart as a financial pioneer. 

“Reaching 500 000 customers is a big deal for us,” Le Roux reflects. “It’s a key milestone in our mission to redefine the markets where we operate by providing a true unsecured loans product. We’re not slowing down. Our goal is to double our customer base in the next two years with our clear vision of simple, affordable service. The journey’s been great, but the best is yet to come!”