has raised a R250 million debt facility, through Rand Merchant Bank , in a move that will allow it to expand its offering.
The app allows low-income workers to access part of their earned wages before payday, offering a way for South African low-income earners to even out their cash flows throughout the month. Deon Nobrega, CEO of Paymenow Group, notes: “There is tremendous demand for Paymenow’s services in South Africa, which has 25 million active credit customers, of whom more than 10 million are behind on their payments.
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